Resettlements: revenue consequences of varying discretionary trusts

The discretionary trust is a conundrum in Australian jurisprudence. Powers and duties are blended in differing degrees with different legal consequences in the several forms of the device. Trust law principles for variations of discretionary trusts which lead to new trusts, or ¿resettlements¿, are outlined in this article, as well as applicable capital gains tax provisions of the Income Tax Assessment Act 1997 (Cth), and State and Territory duties and stamp duties legislation.