Existing discretionary trusts may be upgraded to the LightYear Docs Leading Member Non-Foreign Person Discretionary Trust.
A Leading Member Discretionary Trust provides control of the Trust to a Leading Member who can then pass that to their next in line. Additionally, a stamp duty surcharge and in some cases a land tax surcharge applies in various states where a foreign person acquires property in that State. There are exemptions where the foreign person does not control the trust nor receives capital or income distributions in excess of 50% of any distributions.
This trust limits trustees and beneficiaries receiving trust distributions to citizens and permanent residents.
► $129.00 (inc GST) – OR provided under your unlimited membership
► The master document has been signed off by Abbott & Mourly and is congruent with Australian law.