Innovative Structures

The documents for trusts, companies and SMSFs arranged by Tax Strategies are drafted from a base of specialist skills across taxation law, trusts law and other associated areas. Some of the features relating to the documents arranged by Tax Strategies are outlined below.

Trusts

Unlike the vast majority of trust documents provided across Australia, our trusts are not still based substantially on precedent documents from 30 or 40 years ago. Tax Strategies' trusts are new generation trusts for the 21st century, with a range of unique and innovative features. And created from completely rewritten precedent documents – the result of significant research and specialist skills.

Also, we have the strong view that current practice demands much more for a family than the same old discretionary trust features from the past that have long outlived their usefulness. For instance, the lack of fixed interests of substantial value for beneficiaries of a discretionary trust is both its greatest strength (giving such wonderful flexibility)... and its greatest weakness. That weakness is the inability to pass ownership interests for the succession of trust wealth to the next generation. Passing control of a corporate trustee and the power to remove and appoint trustees is a grossly inadequate mechanism for succession. There is just too much that can go wrong from reliance on that mechanism, since it does not encompass direct control over trust assets for succession purposes. And the risk of its failure to achieve intended succession outcomes is highest in potential conflict situations - ironically, the time when there will be most reliance on a control mechanism.

Tax Strategies has trusts that overcome that very substantial weakness – melding with estate planning arrangements in a far more principled and effective way, yet retaining the wonderful flexibility of discretionary trusts.

Drafting

Our documents are written in an easy, readable style. And the drafting style avoids copying numerous mandatory provisions that are contained in relevant statutes – the result is much shorter documents that are far more easily readable and need far less amendments to maintain alignment with relevant statutory provisions when those are amended.

In-House Supervision

Our documents are prepared under the on-site supervision of a specialist tax lawyer. This means that queries and issues can be dealt with efficiently and aids in our strict quality control process. We aim for complete accuracy and our systems are designed to detect potential issues in our review and checking procedures.

Having the benefit of exclusive assistance from our associated law firm also means that Tax Strategies’ precedent documents are maintained to a very high standard. Changes to relevant laws are constantly monitored and appropriate amendments incorporated into our precedent documents as the need arises. New ideas and improvements from Tax Strategies’ ongoing role and practice as specialist tax practitioners also naturally contribute to that continuous program of review and amendment of our precedent documents.

Associated Services

Tax Strategies can arrange more complex trusts or other structures to suit specific circumstances. And simpler associated matters such as changes of trustees.

Substantial amendments of trust deeds can also be provided – for old discretionary trusts and unit trusts as well, not simply for SMSFs. Rather than piecemeal amendments, we will often be able to arrange a complete rewrite so that a single, modernised deed results. That avoids the need for practitioners to look at multiple documents when trying to determine what the current rules are. The process and documentation to achieve these amendments are carefully designed so that no tax or duty liabilities will be triggered.

Delivery

Documents can be provided either electronically or in hard copy by express post. They are usually sent the same day as instructions are received, unless we receive those instructions later in the day.