Many of Moore Australia’s clients have discretionary trusts. For some clients, understandably discretionary trusts can be hard to get their head around given they are largely driven by historical trust law and from a tax perspective, some complicated tax law.
 

Looking to purchase residential property in a discretionary trust? You may be subject to additional duty from 1 March 2020.

The foreign purchaser additional duty provisions have been in effect since 1 July 2015, but the Commissioner has been applying a ‘practical approach’ until now.