Discretionary trusts

Our discretionary trust services include:

• Establishing the discretionary trust.
• Specialist financial services advice ensuring alignment with your financial goals and estate planning objectives.
• Establishing a corporate trustee (if required) – if a corporate trustee is advantageous for your situation, we assist in establishing the corporate entity to serve as trustee.
• Preparing discretionary trust tax returns and financial statements – our team prepares tax returns and financial statements for your discretionary trust, ensuring compliance and optimising tax positions.
• Preparing beneficiary tax returns – we manage the preparation of tax returns for beneficiaries of the trust, taking into account distributions received and additional personal income tax considerations.
• Provision of advice relating to tax efficient discretionary trust distributions – we provide strategic advice on making tax-efficient distributions to beneficiaries, considering individual circumstances and tax implications.
• Advising on complex discretionary trust matters – including:
  • Family trust elections and compliance.
  • Analysis of reimbursement agreements/arrangements and their tax impact.
  • Guidance on anti-avoidance rules involving tax-exempt beneficiaries.
  • Advice on the process and considerations for winding up or vesting a trust.
• Advising on cross-border issues – we offer specialised advice on cross-border trust matters, such as:
  • Determining the residency status of a foreign discretionary trust and its tax implications.
  • Managing the tax consequences of non-resident discretionary trusts distributing to Australian tax resident beneficiaries.
  • Addressing the tax implications for resident trusts distributing to non-resident beneficiaries.
• Drafting trustee resolutions – by the required deadline (30 June of the relevant year) to ensure the discretionary trust’s compliance and strategic distribution of income.

Speak with your local Nexia Advisor to explore tailored solutions for your discretionary trusts.