|
|
DISCRETIONARY TRUST |
UNIT TRUST |
COMPANY |
COMPLYING SELF MANAGED SUPER FUND |
INDIVIDUAL |
|
ASSET PROTECTION |
YES* |
YES |
YES |
YES* |
NO |
|
SUCCESSION |
NO |
YES |
YES |
YES |
YES |
|
INCOME SPLITTING |
YES |
YES |
YES |
NO1 |
NO |
|
SALEABILITY |
NO |
YES |
YES |
NO |
YES |
|
LOSS ACCESS |
NO |
NO |
NO |
YES |
YES |
|
WINDING UP –TAX EFFECTIVE |
YES |
NO |
NO |
YES |
- |
* indicates highly effective but note the possible limitation on the discretionary trust introduced by French J in Re: Richstar (2006 FCA).
1 contribution splitting options are available between spouses. They provide various tax advantages for the couple. It is envisaged that the government will expand this option to de-facto couples in the near future.
Disclaimer
The contents of this chart do not constitute legal advice and should not be relied upon as such. The information is general and summary. Formal legal advice should be sought on specific matters. Liability is limited by a scheme approved under the Professional Standards Legislation.
DR BERNARD CAREY
Special Counsel
Commercial and Corporate Law
