Unit trusts and fixed trusts
One area that seems to be receiving an increasing amount of interest from the Tax Office in recent times concerns the distinction between a unit trust and a fixed trust.
Often, the differences between these two types of trusts can be quite subtle and the interpretation of the trust deed can be critical in this regard.
The starting point in any trust related matter is to read the trust deed.
Where a trust deed is reviewed and the instrument does not reflect the intent