TNB 878 Pty Limited – Brunskill Family Trust [2022] NSWSC 527

Supreme Court New South Wales

Medium Neutral Citation: TNB 878 Pty Limited – Brunskill Family Trust [2022] NSWSC 527 Hearing dates: 22 February 2022 Date of orders: 22 February 2022 Decision date: 03 May 2022 Jurisdiction: Equity - Expedition List Before: Sackar J Decision: Orders made Catchwords: EQUITY — Trusts and trustees — Judicial advice — Variation of trusts — Whether trustee can amend vesting day — Whether objects of the powers to appoint income and capital of the trust estate can be extended — Whether the terms of the Trust Estate may be amended so that successor trustees cannot benefit for the purposes of s 54(3) of the Duties Act — Whether trustee can define the term "income" to include statutory income such as capital gains Legislation Cited: Conveyancing Act 1919 (NSW) Duties Act 1997 (NSW) Land Tax Act 1956 (NSW) Land Tax Management Act 1956 (NSW) Perpetuities Act 1984 (NSW) State Revenue Legislation Further Amendment Act 2020 (NSW) Trustee Act 1925 (NSW) Trustee Act 1925 (UK) Trusts Act 1973 (Qld) Cases Cited: Application of NSFT Pty Ltd [2010] NSWSC 380 Arakella Pty Ltd v Pattern (2004) 60 NSWLR 334 Barry v Borlas Pty Ltd [2012] NSWSC 831 Cisera v Cisera Holdings Pty Ltd [2017] NSWSC 960 Cisera v Cisera Holdings Pty Ltd [2018] NSWCA 286 Kearns v Hill (1990) 21 NSWLR 107 Ku-ring-gai Municipal Council v The Attorney-General (1954) 55 SR (NSW) 65 Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar the Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 Re Dion Investments Pty Ltd (2014) 87 NSWLR 753 Re Dion Investments Pty Ltd [2020] NSWSC 1661 Re Grant (as trustee for the Grant Family Testamentary Trust) [2013] NSWSC 1603; (2013) 10 ASTLR 149 Re Sykes (1971) 1 NSWLR 597 Riddle v Riddle (1952) 85 CLR 202 Soo v Soo [2016] NSWSC 1666 Stein v Sybmore Holdings Pty Ltd [2006] NSWSC 1004; (2006) 64 ATR 325 Wills' Trust Deeds [1964] Ch 219 Texts Cited: Denis SK Ong, Trusts Law In Australia (5th ed, 2018, Federation Press) Category: Principal judgment Parties: TNB 878 Pty Limited – Brunskill Family Trust (plaintiff) Representation: Counsel: D Barlin (plaintiff)