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Reference:1414698 (Unit Trust - non-fixed)

The legal information and commentary on this site is general only. Documents ordered through Cleardocs affect the user's legal rights and liabilities. To assess their suitability for the user, legal, accounting and financial advice must be obtained.

Before you start: Unit Trust (Non-Fixed)

You are ordering a Unit Trust (Non-Fixed), meaning that the Trust will allow for two classes of units:

  1. income units: these are units which entitle the unit holder to receive distributions of income only — the Trustee may decide whether or not to distribute income of the Trust to income unit holders; and
  2. ordinary units: these are units which entitle the unit holder:
    • to receive distributions of capital (in proportion to their unit holdings) and,
    • to receive distributions of income (which has not already been distributed to income unit holders) in proportion to their unit holdings.

If you wish to have only the one class of units, with rights to capital and income of the Trust, this document package is not suitable. Instead, please choose the "Unit Trust (Fixed)" document package.


If you need advice about which type of Unit Trust to order, then please ring us on 1300 307 343. We will arrange for you to speak to our lawyers at Maddocks - for free - about the structure and operation of each type of Unit Trust.

Foreign purchasers of land and duty implications

Consider if a foreign person will be involved in the administration or conduct of the trust, is a beneficiary of the trust or is related to a person who has a beneficial interest in the trust. If so, and if either now or in the future this trust will acquire land in Australia, the trustee should obtain advice about whether the trust may be liable for additional stamp duty and surcharge rates of land tax.

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