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Australian trust law is the law of trusts as it is applied in Australia. It is derived from, and largely continues to follow English trust law, as modified by state and federal legislation. A number of unique features of Australian trust law arise from interactions with the Australian systems of company law, family law and taxation.
The majority decision holding that assets of a discretionary family trust could be counted as property was controversial to some legal commentators. [10] Prior to Kennon v Spry , it was believed by some that the law enabled the family discretionary to act as an effective method of asset protection against estranged spouses.
In the trust law of England, Australia, Canada, and other common law jurisdictions, a discretionary trust is a trust where the beneficiaries and their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. It is sometimes referred to as a family trust in
The committee included Edmund Barton, Australia's 1st Prime Minister, managing director John Street of the Street family and chairman James Fairfax of the Fairfax family. The Perpetual Trustee Company (Limited) was officially formed in 1886, originally based at 105 Pitt Street Sydney. John Pewtress, an accountant, became the first employee.
Prudence Murdoch was born in August 1958 in Adelaide, South Australia. [1] [2] She is the eldest child and first daughter of Australian-born American media mogul Rupert Murdoch, and his first wife, Australian model Patricia Booker.
Division 1 is the former Family Court of Australia and is a superior court of record for dealing with family law matters. It contains 35 judges. Division 2 is the former Federal Circuit Court of Australia, and deals with the bulk of family law matters prior to the establishment of the Court, as well as general federal law matters such as ...
Australian family law is principally found in the federal Family Law Act 1975 and the Federal Circuit and Family Court of Australia (Family Law) Rules 2021 as well as in other laws and the common law and laws of equity, which affect the family and the relationship between those people, including when those relationships end.
Family Assistance and Other Legislation Amendment (Schoolkids Bonus Budget Measures) Act 2012 2012 (No. 50) Yes (as amended) Family Assistance Legislation Amendment (More Help for Families—One-off Payments) Act 2004 2004 (No. 60) Yes (as amended) Family Court of Western Australia (Orders of Registrars) Act 1997 1997 (No. 148)