Discretionary (family) trusts

The items listed below are not links. They indicate where you are in this process.

• Start

• Dutiable property

• Full duty

• Place of execution

• Concessional duty

• How to apply

A Declaration of Trust is a dutiable transaction and generally liable to full duty based on the value of the dutiable property the subject of the trust. Read more information in Section 8(1)(b) of the Duties Act.

A Discretionary Trust is one in which the entitlement of the beneficiaries to income and/or capital is not immediately ascertainable. Rather, any entitlement is determined by the trustee (or some other person) from time to time or at maturity of the trust.

Note: where there is a subsequent transfer of trust property from the trustee of a discretionary trust to one or more beneficiaries, the duty payable on the transfer will be dependent on a number of factors. Read more information in the related topic 'Transfer - Discretionary Trust'.

More information