Trusts owning NSW property may need a new Deed
Trusts that own residential property in New South Wales may be required to update their Trust Deed due to legislation put in place with effect of 1 January 2020.
If changes are not made, Trustees may be up for significant stamp duty and/or land tax as the Trustees of Discretionary Trusts will be considered foreign residents.
More detailed information can be found here.
Trustdeed.com.au with Batallion Legal are one of our trusted partners for new business set ups and changes as necessary to deeds, constitutions etc.