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Bamford Trust Deed Review - $165

PRODUCT INFORMATION

THE BAMFORD (INCOME STREAMING) TRUST DEED REVIEW PROCESS

Topdocs, in conjunction with Topdocs Legal, provides a comprehensive review service for your discretionary, unit and hybrid trust deeds to determine if they contain appropriate Bamford income streaming provisions.

The Bamford (income streaming) Trust Deed review service broadly involves two (2) stages:

  1. the review, and
  2. the recommendations.

THE REVIEW

The first stage, the review, involves a comprehensive evaluation or assessment of the trust deed by testing the deed against a number of scenarios. An example of questions asked of the trust deed are outlined below.

See an example of the questions asked of the deed in the Bamford Trust Deed Review process ... [more]

  • Does the deed define trust income differently to taxable income to avoid adverse consequences in gains or credits not forming part of taxable income and therefore remaining unallocated?
  • Does the deed allow the trustee a clear discretion to determine whether a receipt or outgoing is to be regarded as income or on capital account?
  • Does the deed allow streaming of different classes of income? That is, capital gains and franked dividends, which are expressly allowed under statute, and streaming of other types of income, relying on common law.
  • Is the in-specie distribution clause wide enough?
  • Does the deed specifically provide for separate accounts to be created and maintained for different classes of income and can you reclassify these if needed?
  • Are you able to stream outgoings and therefore create net amounts in the streaming accounts?
  • Is there a default provision for outgoings?
  • Are you able to allocate the net amounts of any streamed accounts?
  • Does the deed define capital gains so as not to lose the concessions available?
  • Are you able to allocate from gross income in case your trust income is less than your taxable income?
  • Are there appropriate provisions on liabilities to taxation and payments by the trustee on behalf of the beneficiaries?

THE BAMFORD TRUST DEED REVIEW RECOMMENDATION REPORT

Based on the outcome of the review process, a detailed report of any recommended amendments required for the deed is provided. The recommendation report outlines why the amendment has been proposed and the priority (high, medium or low) of the amendment. We also include a tailored quote that outlines the associated costs to have the amendments implemented by Topdocs.

WHY ORDER A BAMFORD (INCOME STREAMING) TRUST DEED REVIEW?

  • Reviews are conducted by expert trust lawyers at Topdocs Legal
  • Reviews ensure your clients are compliantly streaming their income
  • The $165 review fee is waived if Topdocs is engaged to complete an amendment

MORE INFORMATION

You can learn more about the Topdocs Bamford (income streaming) review documentation and process in the RELATED INFORMATION tab.

Should you have any queries or require more information, please call the team at Topdocs on 1300 659 242.

ORDERING OPTIONS

ORDER A SINGLE REVIEW

Order a single Bamford trust deed review by completing this order form.

ORDER MULTIPLE REVIEWS

Order mulitple Bamford trust deed reviews by completing our easy-to-use spreadsheet.

Should you have any queries or require more information, please call the team at Topdocs on 1300 659 242.

PRICING

ADVISER^
(inc GST)

RETAIL
(inc GST)

INSTANT EMAIL DELIVERY


  • due to the complex nature of this document, it is only available via full service delivery

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FULL SERVICE DELIVERY


  • your review checklist will be provided to you via post

$165


$220


adviser pricing ^ Adviser pricing is available to accountants, financial planners, SMSF specialists and legal practitioners. This pricing is automatically applied when you join Topdocs and sign into the Document Portal to order your documents.

YOUR DELIVERY OPTIONS

When you order a document you can select how you would like it delivered to you. Your options are:

FULL SERVICE DELIVERY

  • your document is professionally printed and bound, reviewed by our legal team where required, then delivered to you by express post

Should you have any queries or require more information, please call the team at Topdocs on 1300 659 242.

RELATED INFORMATION

MORE INFORMATION

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No Additional Information is available for this document.

Should you have any queries or require more information, please call the team at Topdocs on 1300 659 242.