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Day: July 12, 2024

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How ‘fixed’ are your clients’ unit trusts and what are the possible ramifications for misclassifying?

There is a misconception that all unit trusts are fixed trusts. Perhaps it is because a beneficiary’s income and capital entitlements are based on their unitholdings rather than being dependent on the trustee discretion to appoint income/capital. The tax ramifications for misclassifying a unit trust as ‘fixed’ could in certain circumstances be detrimental. This article seeks to highlight potential implications for misclassification.

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