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The defining characteristic of a Discretionary Trust is that the trustee has the discretion to distribute income or capital to the beneficiaries. Until the trustee exercises that discretion the beneficiaries generally have no interest in the trust property and so, in reality, are potential beneficiaries only. 

Discretionary Trusts are often used as the basis for a "family trust" although under tax rules and legislation a "family trust" is essentially made a "family trust election".

Trusts are not separate legal entities but a Trust is required to have a tax file number, and Australian Busine Number and is required to file a Trust Return each year.

At Southen Legal we can draft a Discretionary Trust Deed to suit your unique requirments. This email address is being protected from spambots. You need JavaScript enabled to view it.

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