Tax benefits of using a Registered Family Trust for Wealth Management

Creating a nest egg for future generations

The Finance Act 2021 introduced various Tax benefits of having a Registered Family Trust.

  1. Sections 52 and 117 of the Stamp Duty Act Cap. 480 have been amended to exempt the transfer or sale of property from Stamp Duty.

  2. Sections 11, 25, 26 and the First Schedule of the Income Tax Act Cap 470 have also been amended to confer some tax benefits to a Registered Family Trust

It appears therefore that the Government is interested in preservation of Family Wealth and therefore we should use this avenue to create and grow wealth, especially at the Family level.