Family trusts

Filed Under: Taxation; Trusts

Family trust arrangements allow property to be held by a trust for the benefit of beneficiaries under the trust. Trusts are used for many purposes, including succession planning for businesses and dealing with the needs of beneficiaries in special circumstances, such as age and disability. The 1995 budget proposed changes to the taxation of family trusts to ensure that they do not provide any undue tax advantages.

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