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tax implications on capital distribution after winding up a testamentary trust

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Newbie

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Replies 2

My share of my inheritence was taken as  a testamentary trust from my mothers will. I am the trustee and the appointer of the trust.

I would now like to wind up the trust as I have now retired. Is the capital ( mostly cash) from the trust when transferred to the beneficiaries tax free?

My accountant has done annual tax returns and the income has been distrubuted each year and tax paid on that income.If the shares in the trust are transferred as shares what is the tax implications? Thank you for answering these questions.

 

1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

Community Manager

Replies 0

Hi Lyn1,

 

We have been advised that there is a lot of information required to be able to answer your question. We would suggest that contact our early engagement area for advice.

 

Thanks

 

KylieS

2 REPLIES 2
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Community Manager

Replies 0

Hi @Lyn1,

 

Thanks for your question , we will look into it and get back to you as soon as possible


Thanks

 

KylieS

Highlighted

Most helpful response

Community Manager

Replies 0

Hi Lyn1,

 

We have been advised that there is a lot of information required to be able to answer your question. We would suggest that contact our early engagement area for advice.

 

Thanks

 

KylieS