This article discusses the challenges of rectifying mistakes in trust deeds by way of a deed of rectification, particularly in the context of tax disputes involving revenue authorities.
Unfortunately, it is not uncommon for trust deeds to contain mistakes. While a deed of rectification noting and correcting the mistake is one common solution, the Full Federal Court decision in FCT v The Trustee for the Michael Hayes Family Trust 1 illustrates the challenges of seeking to rectify mistakes in this way, particularly in the context of tax disputes involving the Commissioner of Taxation. Briefly, the relevant facts of Hayes are as follows.
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