For trustees making distributions from a discretionary trust, there is more to consider than the application of section 100A and section 99B. Trustees are under a fiduciary duty to administer a trust in accordance with the terms of the trust imposed upon them as well as trusts generally having more complexity than what was previously assumed.
This session covers a range of areas that trustees should be considering including:
- Myth busting – asset protection, family law and other “publican” views
- Does the trustee genuinely have unfettered discretion (Owies); and
- Can the Commissioner apply Part IVA to family trust distribution decisions (Minerva).