You may be aware that toward the end of 2021, in a private ruling, the ATO confirmed the tax payable in respect of a gift of superannuation to a member’s estate where that super is to be held in a testamentary discretionary trust.
testamentary trusts
New testamentary trust law
New law closes loophole on Favourable Tax Treatment of Income from Testamentary Trusts.
Superannuation proceeds trust: excepted income changes
The recent Tax Act amendment on excepted income of testamentary trust distributions may potentially affect superannuation proceeds trusts (“SPT”) that are structured as testamentary trusts.
Can grandparents protect their grandkids’ inheritance?
If their kids don’t get on with one of the grandkids maybe the grandparents should act to protect that grandchild’s inheritance.
Townsend Lawyers is a leading independent law firm, specialising in commercial and business law, corporate advisory, tax, estate planning, superannuation, insurance, trusts and SMSFs.