Tax News & Articles

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.

The NSW government has recently announced the removal of surcharge provisions for foreign persons from New Zealand, Finland, Germany and South Africa. What does it mean and who is affected?