Q: Can I get a sample of this document?

Yes, please email <a id="menur5pp" class="fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn" title="mailto:support@lyd" href="mailto:support@lyd" target="_blank" rel="noreferrer noopener" aria-label="Link support@lyd">support@lyd .com.au to request a sample document for you to review.

Question 1

What is a Fixed Unit Trust?

Accepted Answer

A Fixed Unit Trust (for Taxation Purposes) is a legal structure where unit holders have a fixed, proportionate entitlement to the trust's income and capital. It is commonly used for managing investments, distributing profits, and ensuring tax efficiency.

Question 2

How is this trust different from a discretionary trust?

Accepted Answer

Unlike a discretionary trust, where distributions are made at the trustee's discretion, a Fixed Unit Trust requires income and capital to be distributed according to the fixed entitlements of unit holders.

Question 3

Is this deed suitable for use in NSW?

Accepted Answer

No, this Fixed Unit Trust Deed (for Taxation Purposes) is not suitable for use in New South Wales (NSW). If you require a trust deed for NSW, please use the Fixed Unit Trust (NSW Land Tax Purpose) template, designed specifically to meet NSW legislative requirements.

Question 4

Can this trust hold business or investment assets?

Accepted Answer

Yes, this trust can be used to hold a variety of assets, including business and investment properties, provided it aligns with the intended tax and asset management strategy.

Question 5

Stamping and Lodgement of Trusts

Accepted Answer

The fees and stamping requirements for establishing a trust deed vary throughout Australia, and the duty payable also varies depending on the type of property that is held by the trust. Please contact our partners at Eventum Optimum (EO) on info@eventumoptimum.com.au for more information on when stamping is required (in what jurisdictions) and the fees/duties payable. EO are able to provide this service to you.

Question 6

Is this document a legal document?

Accepted Answer

All master documents have been signed off by LY Legal. Tony Anamourlis of LY Legal advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LYD platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LYD platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.”

However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed legal document provided by LY Legal.

The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria [1927] VLR 394, 397 where the Court held:

“if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.”

Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances. The Court held that this process was legal work.

Question 7

Are the LYD documents reviewed regularly?

Accepted Answer

All LYD documents form part of the LYD internal review process. We review all documents at least annually or when required to do so due to changes in legislation. Further details of this process and a review schedule is include on this website.

Question 8

Can I get a sample of this document?

Accepted Answer

Yes, please email support@lyd.com.au to request a sample document for you to review.

Question 9

Is the document easy to read?

Accepted Answer

All LYD products are written in plain English and assessed for readability. If at any time you come across any errors, please contact support@lyd.com.au.

Question 10

How long does this document take to assemble?

Accepted Answer

Depending on the complexity of the data, this document should take approximately 30-50 secs to assemble. If you experience timing outside of this please contact Support via the Surge app, alternatively please read this article for troubleshooting tips https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts .

Fixed Unit Trust (Tax Purposes)