Vincent Ooi, of the Singapore Management University – Yong Pung How School of Law; Singapore Management University – Centre for AI & Data Governance has made available for download his article “Holding Residential Property on Inter Vivos Trusts in Singapore: Transfers of Equity Interests”, published in the (2022) 10(12) Trusts & Trustees 1-11. The abstract is as follows:
Following amendments to the ACD regime in Singapore, transferring equity interests to and from a trust with no beneficial owners will attract ACD, as will the exercise of a power of appointment by a trustee to grant equity interests to a beneficiary. Renunciation of interests in a bare trust will also attract ACD. Together with the introduction of ABSD (Trust), it is now impractical to use trusts to hold residential properties for succession planning purposes. Remaining options are to gift the properties without any strings attached or bequeath the properties in a will and risk subsequent changes to death taxation.
To see the full article, click: “Holding Residential Property on Inter Vivos Trusts in Singapore: Transfers of Equity Interests”
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.
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