Private Clients| 19 Nov 2020
As 2020 nears to a close, advisors should note the impending 31 December deadline in NSW to exclude foreign persons as beneficiaries of discretionary trusts, to prevent these trusts from becoming foreign persons for the purposes of surcharge duty and land tax.
Private Clients| 13 Jul 2020
The NSW Government’s changes to surcharges for ‘foreign persons’ for duty and land tax are now law. These changes apply to NSW residential land held by discretionary trusts.