Hybrid trust / discretionary trust amendment - exclusion of foreign persons


$550 - SUPERCentral deed

$POA - non-SUPERCentral deed

This service requires legal advice and tailoring.  Quoted fees for client acceptance will vary based on the complexity of the advice and/or documentation required.

The State Revenue Legislation Further Amendment Act 202 (NSW) amended the Land Tax Act 1956 (NSW) land Tax Management Act 1956 (NSW) and the Duties Act 1997 (NSW) to deem a discretionary trust as 'foreign' for the purposes of surcharge land tax and surcharge duty unless the trust prevents any foreign person from being a potential beneficiary of the trust, by irrevocably amending its trust deed.

To avoid these considerable charges, we can draft documents that irrevocably vary the trust deed.

What's included:

  • deed of variation
  • letter of advice
  • record of decision of the relevant authority (eg the appointor)
  • resolution by the trustee to vary the deed

For further information, please call our office on 02 8296 6266