Abstract
Abstract Variation of a trust deed in any of the States and Territories of Australia by extending its period of operation does not cause the instrument of change to be exigible to ad valorem stamp duty, even if the instrument in question is a resettlement. Likewise, it is also not a resettlement for capital gains tax purposes and, in this respect, it is submitted that the same statements of principle apply in the United Kingdom. Australian law owes much to the laws of the United Kingdom as is made abundantly clear in such Australian texts as Hill on the Duties Act and Jacobs Law of Trusts, Ford & Lee on Trusts, Dal Pont on Trusts and Ong on Trusts. The English texts such as Lewin on Trusts, Underhill & Hayton Law of Trusts and Trustees, and Thomas & Hudson on Trusts are equally helpful to persons seeking knowledge, as also remains the respective 3rd and 4th editions of Scott on Trusts and Scott & Ascher on Trusts. This paper seeks to establish its themes with the aid of extracts from both Australian and United Kingdom decisions. If some seem lengthy, then, in this commentator’s opinion, that length is justified.
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