Can NTAA Corporate prepare a deed of variation for a discretionary trust that will exclude foreign beneficiaries in NSW?
Yes, we can prepare the "foreign exclusion" deed of variation where the trust was established through NTAA Corporate. Clients with a non-NTAA trust deed should contact the original supplier or seek independent advise in relation to a deed of variation being prepared.
This is in relation to a bill that was introduced into the NSW Parliament on 22 October 2019, which, if passed in its present form, will mean that discretionary trusts in NSW only have until 31 December 2019 to be amended so as to provide that it is not a “foreign trust” that is subject to the stamp duty and land tax surcharge in NSW.
If you would like to order this variation to an existing NTAA Corporate deed, please complete this order form and email to email@example.com along with a scanned copy of the executed deed.