The Victorian Time Period - 1108 Words

Many Victorians thought they were living in a time of great change. Queen Victoria’s long reign occurred during political and social stability. But this stability was established before Victoria and most of her subjects were even born. Britain was free of war between Napoleon’s defeat in 1815 and World War I in 1914. While in power, Victoria was queen-empress of over 200 million people not living in Great Britain. At the same time the Industrial Revolution of the 18th century was expanding. New towns, goods, wealth and jobs for those that were climbing through the middle class. Middle-class and working-class politicians were put into power, allowing all to have a say while still remaining a monarchy. Thomas Babington Macaulay helped show the middle class attitude of the time government, history, and civilization. To Macaulay, history was related to progress and progress was defined as actual improvements that the person could physically see or touch. Macaulay also wante d the streets of London to be cleaned up, paved, lighted, and watched over by an actual police force. He had the idea of splitting areas based on wealth, so the poor did not bother the wealthier. Although all did not agree with Macaulay, many of those like him did agree. The first decade Victoria was in power was known as the â€Å"Hungry Forties†. She came into power the very first year of a depression that left 1.5 million workers and their families on a type of relief. When the government decided to check outShow MoreRelatedThe Period Of Victorian Times3057 Words   |  13 Pages Late-Victorian civilians had no hope or faith left by the end of Queen Victoria’s reign. Victorian poets either attempted to change the mind and hearts of Victorian people for the benefit of the throne or attempted to raise awareness for the benefit of progress over the course of the era’s entirety. Nineteenth century England reached its height as a world imperial power and had changed as dramatically as it had in all of its history combined during this time (Greenblatt 2145). The population ofRead MoreThe Time Machine: Class Conflict in the Victorian Period Essay2399 Words   |  10 PagesIsland of Dr. Moreau, and The War of the Worlds. These selections however are not Wells’ most controversial novel. The Time Machine, written in 1895, is Wells’ most talked about work. Multiple different themes and various sides are seen to be taken within this novel, one of these main themes being the separation of classes. While the Morlock’s and the Eloi, in H .G. Wells’ novel; The Time Machine, play an extremely important role in distinguishing the future for this book, one has reason to believe thatRead MoreThe Romantic Period Of The Victorian Era1715 Words   |  7 PagesBeltran English IV- C Ms. Gordon 18 March 2015 Research Paper Throughout history, many time periods have been similar and different from each other. People from each time period decide what they want to continue incorporating and what they would like to disregard. The Victorian Era was brought about upon to show rebellion from the Romantic period. The Victorian Era is a reaction against the Romantic Period due to differences in terms of historical influences, effects of science, crises of faithRead MoreCharacteristics Of Victorian Literature1437 Words   |  6 Pages Are the Victorians Romantics? Characteristics of Victorian literature are largely artists that are inspired by both the art that came before them and the event that occurred during the time that they were working. Victorian literature is largely characterized by the struggle of working people and the triumph of right over wrong, which do in part can be hard to decipher at times. This means that a piece of work can seem Victoria, but may not have been written in the Victorian era, or something canRead MoreChange in the Victorian Period. the Role of Women.891 Words   |  4 PagesChange in the Victorian period. The role of women. The United Kingdom of Great Britain and Northern Ireland is the country whose rich history covers many periods and eras. It saw its ups and downs, experienced both hardships and prosperity. It has been the leading power throughout centuries, with many countries looking up to it and kneeling before it. Still, the echo of its former majesty can be seen up to the present day. However, it is impossible to describe the periods all at once. It wouldRead MoreVictorian Wedding Traditions Essay931 Words   |  4 PagesMarriage in the Victorian time period was carefully contemplated, as Rosenberg addresses that â€Å"Wedding ceremonies were seen as an expression of Victorian social values that that the Queen wished to renounce, while on the other hand, such occasions were viewed as having national and collective significance† (Rosenberg 98). Love played a very tiny role in the Victorian Era marriages. An engagement was more approached as a business deal. Once married all possessions went to the husband as property.Read More Blacks in Victorian England834 Words   |  4 PagesThe Othered Victorians Introduction The Victorian period was a time of great hypocrisy. Despite the fact that the Protestant work ethic was gaining popular support amongst the Victorians and myths such as Samuel Smiles rags to riches became part of mainstream Victorian culture, the Victorians were greatly divided into their respective social classes. Works like Thomas Carlyles The Irish Widow and Elizabeth Barrett Brownings The Cry of the Children exemplified the blatant disregard ofRead MoreVictorian Era: The Start of Corruption in Moral Values1594 Words   |  7 PagesLasting from 1837 to 1901, the Victorian Era followed the Romantic Era. Starting and ending with the reign of Queen Elizabeth, this time period is now viewed as strict, prudish, and â€Å"old fashioned,† especially in comparison to today. During those times, the people had to follow a certain standard of living; they were upright people that were modest and controlled. Society at the time adhered to rules such as wearing clothes that covered the women head to toe and abiding by the proper etiquette ofRead MoreGender Inequalities in Victorian England: Robert Browning’s Porphyria’s Lover984 Words   |  4 Pagesmurder? Good evening and welcome to Poetry Break Down, I’m your host Mary Doe. Tonight, we will delve into the fascinating world of classic Victorian literature. Under the microscope is canonized poet, the late Robert Browning. Browning’s poetry was a reflection of his life and times living in Victorian England. Later on this evening we will analyze just how his times came to play a major role in some of his greatest works, in particular his revered poem Porphyria’s Lover. Released in 1836 (CatherineRead MoreSimilarities and Differences Between the Romantic Age and the Victorian Period.1210 Words   |  5 PagesSimilarities and differences between the Romantic Age and the Victorian Period. Similarities and Differences between the Romantic Age and the Victorian Period What were the similarities and differences between the Romantic Age and the Victorian Period? The Romantic Age and Victorian Period had many similarities, but they had far more differences. They first differed in rule: the Romantic Age didn’t have a king or queen, but the Victorian Period did. They were similar and different in writing styles, and

Cause And Effect Of Car Accidents - 936 Words

The world would be a much better place if there were fewer car accidents. Car accidents happen daily and regularly these days. They leave pains behind for the victims’ families. Many people think that they will never get involved in car accidents. They don’t wear their seat belts, they drive after drinking, and they use their cell phones while driving. They do all these things without even giving a second thought, yet all these things are preventable. No one knows what will happen to them in the future except for God; thus, they should always stay alarmed. People don’t realize that doing those minor things cause them severe pains or even deaths. There are more than six million car accidents each year in the United States. A person dies in a car accident every twelve minutes and each year car crashes kill 40,000 people. Someone is injured by a car accident every fourteen seconds and about two million of the people who are injured in car accidents suffer permanent injuries. Car accidents are the leading cause of death for the people between two and thirty-four years old. Car crashes cost each American more than $1,000 a year; $164. 2 billion is the total cost each year across the U.S. (http://www.edgarsnyder.com/car-accident/statistics.html). As you can see, preserving car accidents not only saves the lives of the people, but also saves the money for their countries. This makes everyone to be involved in car accidents happen in their countries. SoShow MoreRelatedGoogle Glass Essay643 Words   |  3 Pagesglasses are turning everybody’s heads and having them wondering, are these glasses safe, what are the pros and the cons and what is next for Google. Although this new product may seem great and amazing and futuristic it can have some serious side effects and repercussions. One repercussion of this new device could be that is may be an invasion of people’s privacy. The use of this technology could encourage the action of people who like to capture images without permission, it would get much moreRead MoreShould Marijuana Be Legalized?973 Words   |  4 Pageshappens when the brain’s production of endocannabinoid neurotransmitters slows or stops because it has adapted to large amounts of marijuana (â€Å"Addictive†). Marijuana disorder becomes an addiction when the user is unable to stop using even if the effects of marijuana interfere with many aspects of their life (â€Å"Addictive†). In 2014, it was estimated that about 4.176 million people in the US, roughly 1% of the total population, abused or were dependent on marijuana, but it is hard to estimate the numberRead MoreBan on the Usage of Cell P hone while Driving808 Words   |  3 Pagesï » ¿Cell phone ban while driving Many states in America according to their research have found out that use of cell phones in cars have contributed to several accidents as well as traffic violations and are now legislating rules and regulations on cell phone usage so as to create safer driving environment in the states hence reducing the number of accidents each and every day caused by use of cell phones while driving. Jennifer Clark (2012 ) indicates that teenage drivers were banned from any cellRead MoreEighteen is too Dangerous886 Words   |  4 PagesHas anyone been harmed from underage drinking that you may know of, whether it’s from over dosing or a severe car accident? The topic of lowering the drinking age to eighteen in the United States is very debatable subject because many people have a difficult time deciding which side to support. Many of the negative issues for the low drinking age would have of an effect on the future, which is why the reform should not be put into action. Reasons include health issues, irresponsibility, and deathsRead MoreEssay Accidents Caused by Texting and Driving 706 Words   |  3 Pageshits an oncoming car. In the last seven years, the number of teens texting while driving has risen . Researchers at Cohen Childrens Medical Center New Hyde Park estimated 3,000 annual teen deaths nationwide from texting and 300,000 injuries (Ricks). This is more than t he number of teens who drink and drive. In comparison, 2,700 teens die from drinking and driving. Because of texting and driving, there has been an increase car crashes, teen injuries and teen deaths. 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The use of the cell phones while driving has been noted to be a cause of several accidents within many states and have been found responsible for more accidents that those caused by drunk-driving in some states. Due to this, many states have now legislated severalRead MoreDifferent Types Of Research Methods1106 Words   |  5 Pagesfour types are causal comparative, descriptive, experimental, and correlational researches. Causal comparative researches look for the cause of some type of effect. Descriptive researches look for a common characteristic within a similar population and determine how various characteristics affect behavior or achievement. Experimental research seeks for the effect of certain factors, also to find the independent variable and dependent variable of the experiment. Correlational research seeks for theRead MoreThe Technology Of Autonomous Car994 Words   |  4 PagesGoogle’s autonomous car had clocked up 1 million miles on public roads, and the resear cher planned to do more road test in the future in order to expedite launch the Google’s car. (Protalinski, 2015) The technology of autonomous car is mature enough to use. In addition, the law for autonomous car has been already passed in serval states including Florida, Nevada, and Michigan. (Boeglin, 2015) It seems to be obviously that autonomous are coming into and bringing profound effect in our daily life.Read MoreThe Causes of Road Accidents in Malaysia1692 Words   |  7 PagesThe Causes Of Road Accidents In Malaysia Time to time, half a million of Malaysians died because of road accidents and the highest cases of road accidents are caused by the drivers’ behaviour, equipment failure and the road conditions and infrastructure. Because of the road accidents many people have lose their family member or close friend. Besides, the road accidents also may effected to government when they have to repair for the broken infrastructure that caused by the accident like lamp

Powers Dismantle Discretionary Structures †Myassignmenthelp.Com

Question: Discuss About The Powers Dismantle Discretionary Structures? Answer: Introduction In Australia, there are different kinds of business structures which can be opted for pursuing the business and one of these is trust[1]. A trust can be defined as a fiduciary relationship present in which one is known as the settlor, who gives the other party, which is trustee, the right of holding the title to assets or property for benefitting a third party, which is known as a beneficiary. The debts of the company are the responsibility of the trustee. The trust form of business structure is established for providing lawful safeguards to the assets of the settlor, for making certain that these assets are distributed as per the wishes of settlors, to reduce paperwork and save time, and in particularly instances, for avoiding or reducing the estate taxes of inheritance[2]. The trust law was introduced back in 1970 by Malcolm EJ Morgan in the nation, who was an accountant profession wise[3]. The Australian trust law follows the English trust law and is amended through the commonweal th and State or Territory legislations. The rationale for choosing the trust depends upon the numerous advantages which are available, particularly in terms of tax benefits to the trust form of business structure[4]. However, this does not mean that the trusts do not have any disadvantages; some of these disadvantages would be discussed later on in this discussion. In the key characteristics of the trust is the requirement of drawing up a formal trust deed in which is stated, the manner in which a particular trust would be operated, its operations, the need for trustee to fulfil the administrative tasks in formal manner and annually, and the expensive set-up of the trust. But the most important aspect, which pulls people towards trust form of business structure, is asset protection. The rules for the trusts depend upon the type of trust which one opts for. In Australia, there are a range of trusts which includes unit trusts, managed investment trusts, special disability trusts, charitable trusts, and family trusts[5]. In t he following parts, a discussion has been carried on these different aspects of trusts, where the focus is laid on the family trusts. Why Family Trust? A trust is deemed as a family trust when the trusts trustee makes a family trust election. In order to make this election, the trust has to be controlled completely by a family group. The term family trust is used to refer to a discretionary trust which is set up for holding the assets of the family or for conducting the business of the family[6]. In general, these are established for tax purposes or for asset protection[7]. The Australian family trusts generally are established by the member of the family to benefit the members of a family group. They could be the subject of family trust election, through which different tax advantages are provided which is passed by the trust through the family control test and the trust income is distributed between the beneficiaries of the trust and these are the people within such family group[8]. These trusts also assist in protecting the assets of the family groups from the liabilities of one, or a higher number of family members, particularly in the events like insolvency or bankruptcy of the family members. The family trusts provide a method through which, the assets of the family are passed on to the future generations. Lastly, the family trusts provide a manner of accessing such tax treatment which is favourable and which helps in making certain that all the family members use the income tax as tax free thresholds. There are a number of other possible benefits in the family trust mode, which includes the avoidance of issues like the challenges to will upon the death of a family member. Advantages and Disadvantages There are a number of advantages in setting up a family trust. The first one in this regard is the creditor protection. The assets which are held in trust, in general, are protected from the beneficiaries creditors or that of the trustees in a personal manner. In majority of situations, a trust protects the family from the liabilities of the parents, which are personally owed. Another key advantage of family trust is protection against relationship property claims. At times when the personal assets are given by a parent to their children, through a will, such assets may at times become available to the partners of the children. Though, where the assets are owned by the trust or are given to the trust upon the death of the parent, the children can continue to obtain the benefits of such assets, and as these assets do not become a part of the personal property, they cannot be subjected to the claims of the partner of the children[9]. The property is also protected, both from and for the beneficiaries through family trust creation. Where there is a concern regarding the ability of the children to manage their financial affairs and a reluctance is caused to give the assets to the children upon death, best option is to set up a family trust, which can be used by the children in a particular manner and which could in turn help in protecting the long term value of the assets of the family. Creation of family trust also helps in protecting the assets of the family for future generation, particularly from the possible changes in the tax law regime. The family trusts could provide the protection from different kinds of taxes like the wealth tax, which could be introduced in future, or taxes like inheritance tax or death duties. The will of a person can still be rewritten by the court where the court fees its necessary; though, the same cannot be done for trusts. Also, the modern trust deeds allow for right of variation s o as to deal with the changes which are brought in the law. Lastly, the family trusts are kept confidential due to them not being registered publically[10]. Apart from these numerous advantages of creating a family trust one must not forget the different disadvantages of opting for such mode of business structure. The first disadvantage is the loss of ownership of assets. When the personal assets are transferred to trust, they become the assets of the trust and the trust has complete control over such assets. Even though an ounce of control can be retained as the power is held regarding the appointment and removal of trustees, of by being trustees themselves, it is crucial to keep in mind that the transferred assets are not the assets of the individual. And in case the person treats the assets as their own, the trust has the option of challenging it as a sham[11]. When a trust is formed, there is a need for time and costs to be allowed for meeting with the yearly administrative and accounting requirements of the trusts. There are also high costs involved when it comes to establishing a trust in terms of cost of formation and cost for transfer of assets. These costs are also dependent upon the complexity of the trust, along with the nature of the assets which are being transferred to the trust. There is also a need to keep in mind the future changes in the law which could remove of cause effect to some of the key objectives of the formation of the trust. So apart from the immediate benefits which can be obtained by forming a trust, there is a need to consider the long term effects of trust formation and the impact of it to make a decision regarding if a trust form of business structure is advantageous or disadvantageous as a business structure[12]. Tax Features and benefit with family trust A key advantage of the family trust is the trustees ability for selecting the person from whom the net income of the trust would be distributed yearly. The net income of the trust can be distributed between the beneficiaries in such a manner where the total income tax which is payable on it could be minimized. For the tax purposes, a family trust is one where a valid family trust election is made by the trustee and merely including the wordings family trust in the name of the trust does not create a family trust. The valid family trust election is made by the trustee only when they are satisfied regarding the relevant tests, as well as, have made an election in a written manner and in an approved form. Upon this election being made, the same cannot be revoked or varied save for in special situations[13]. The Family Trust Election allows the trust to obtain certain tax concessions. The family trust distribution tax, as a trade off, is imposed when the distributions are made out of the family group. The family trust distribution tax is applicable to the distributions which are made from the family trusts in case the trustee distributes capital or income, or confers a present entitlement, makes a concessional loan or allows or provides otherwise regarding the usage of capital or income of trust for less than the market value of it, to an entity or to a person which is out of the family group of the trust. This tax is payable by the family trusts trustee at the highest marginal rate, in addition to the levy of Medicare[14]. The Trustee beneficiary reporting rules are such rules which require the trustee to advise the Australian Taxation Office, i.e., ATO regarding some specific details. These details are related to each of the trustee beneficiary which is entitled to the part of a tax preferred amount of the particular trust, or includes in their assessable income, a part of net income of tax, under the untaxed part. This particular advice is required to be provided by the due date of lodgement of family trusts tax return[15]. There is also the advantage of capital gain tax as there is an applicability of 50% discount factor which is applied on capital gains for the assets which are retained for a period of more than one year. There are also the income tax advantages as there is an ability to select the person who would bear the net income of the year and to whom the same would be distributed every year[16]. In addition to these, the state income tax, the transfer tax and the federal estate taxes also have to be considered in a careful manner[17]. Asset protection features and benefit with family trust Asset protection is amongst the different advantages which are available to the family trust, as per which, the valuable assets are put beyond the reach of the possible creditors. By doing so, the family trusts are able to save the day time and again[18]. In majority of the cases, the assets are transferred to the family trust and this disallows the creditors from accessing them in case the transferor goes bankrupt or the transferor gets into some sort of financial difficulty[19]. The reason for this is that the transferor gets no interest in the property which has been transferred and also has no interest in the family trust which is recognized in the eyes of law. This feature is the reason why wealthy individuals opt to hold their assets in family trust[20]. In Dwyer v Ross[21], it was stated that the protection is raised as the trustee of the family trust is the owner of assets, instead of the beneficiaries. And as a result of this, the bankruptcy of the beneficiary would not impa ct upon the assets of the trustee. Current political developments affecting family trusts Due to the very nature of trust, whereby the rich are benefitted, a political debate is brewing in the nation. As per the Australia Institute, in trusts, $3.1 trillion is being held and 51% of the revenue flows from them and goes to the richest 0.43% of the population. The debate has been raised as the family trusts allows the high income earners, to distribute the money to their family members on low tax rates and incomes and by doing so, they are able to reduce their personal liability of tax. The labour party has taken a position in this regard whereby they have made a promise to crack down on the family trusts in case they were elected and as a measure, they have promised to raise a value of $17 billion over a period of ten years[22]. Mr. Bill Shorten, the labour leader has made a promise to introduce an across-the-board minimum 30% tax for the family trust distributing funds to people over the age of 18 in case he comes to power[23]. Such promises were earlier proposed by the Coalition and were abandoned. The views have been changed and now the view of Coalition, as denoted by Scott Morrison, the treasurer is that the labour partys $17 billion was a plan meant to shut down the family trust tax loopholes by directly assaulting the small business. And hence, coalition challenged the release of Bill Shorten to the full details of this policy. Even though a group of experts have suggested that the best manner of closing the loopholes is to attribute the income from trust to such individual who has control over it, irrespective of its final beneficiaries, this is not likely to be of use, owing to the complexities in accounting and legal structure which has taken centuries in its making and could take more than a single policy announcement, to be picked apart. There is thus, only a need of a single policy which does the purpose[24]. Things to consider while setting up family trusts There are certain requirements which have to be kept in mind while setting up any trust. In the English case of Knight v Knight[25], three key certainties were given as the requirement for establishing a trust. These three were intention, subject matter and objects, which became embodied as the three key principles. These key certainties help in determining if the assets can be disposed off in the wills or whether the wordings are too ambiguous for allowing the beneficiaries for collecting what appears to be on face of the will as being their[26]. The first requirement is of the intention to create a trust. The intention of the settler is required for determining if a trust exists and also to determine the width of application and terms of such trust. As per the general maxim, the substance of the equity is looked at, instead of its form; in other terms, it could also be articulated as the equity looking into the intention, instead of the form. Hence, there is no requirement of a special formula or formal words, so long as it could be proved that there is a clear intent of creating the trust. There has to be an intention and it needs to be essential in terms that a trust would be formed and the creation would not merely be permissive. So, a real intention is needed and if there is no intention, a trust would not be created[27]. Where a dispute is raised regarding intention, the person who states that the trust was in existence is required to prove that the intention was present for creation of trust. The construction of language is looked into for this matter as a general approach. The language of the settler is looked into by the court and the words are given plain meaning, till the time a technical term is covered. And for purpose of taking out the meaning of a particular aspect, the entire document which led to the creation of trust has to be taken into consideration. The majority of trusts are in writing, particularly the ones which relates to land. In case of the trusts which are created through will, the context of this document has to be taken into consideration[28]. In Dean v Cole[29], the will of the testator left nearly all of the personal and real property to his wife through the use of wordings ...trusting to her that she will ... divide in fair just and equal shares between my children and that some sum of estate was at complete disposal of the widow. When the document was read as whole, the court interpreted that the testator did not have the intent of creating a trust as the trust for the entire property was not consistent with these statements as some parts were at widows disposal. Hence, trusting to her was not a binding trust to make equal divisions but to indicate the confidence in the wife. The intention is thus a state of mind and the relevant circumstances surrounding it. And when the trust is created through a trust instrument, the instrument has to be analysed for analysing the intention. Where there is uncertainty due to issues like mistake, fraud or duress, a trust would not be created. The next requirement is for the certainty of the subject matter. There is a need for the trust to have a subject matter. A trust is regarding the property and in a valid trust, there has to be certainty regarding which property is the central matter of the trust as it becomes the subject matter of benefits and obligations. There is a need for the trustee to be able to identify the property, along with the rights of the beneficiaries in a fixed trust regarding the trust property. The amount or shares and the nature of property can give rise to the doubts[30]. With regards to the nature of property, any sort of ascertainable property could become the subject matter of trust, which includes tangible or intangible property, personal property, real property and the like. Though, an expectation cannot be deemed as trust property. In Re Rules Settlement[31], a woman was under the different objects of power of appointment which was held by other. She was of the opinion that she would get money from appointment and attempted to settle this money. The Collector of Imposts made an attempt to assess from the stamp duty, the settlement instrument based on the property being the subject of power of appointment. It was held by the Full Court of Victoria that the stamp duty was not payable as there was no property to settle, and just an expectancy of the same. The quantum of interest is another crucial point when it comes to certainty of subject matter. Apart from determining the intent and type of property, it is important to know that there is a certainty of interest which is taken by the beneficiaries. And in absence of such certainty, the expression would be void. The key issue here is the interpretation with certainty by the court. In case, the settler had given certain criteria for interest calculation of beneficiaries, the court would use that particular criterion. This particular approach has to be applied in a fair and generous manner[32]. Re Golay[33] was a case in which a deposition on trust regarding the reasonable income was included in the will. And in this case, the court was of the opinion that this required an objective determination. Certainty of the object is the last requirement where the general rule relates to the beneficiary principle. The principle here is that the trust has to favour the beneficiaries who are identified and who can be ascertained or for a recognized charitable purpose[34]. The principle given under Morice v Bishop of Durham[35] proves to be of help in this regard, which requires each trust to have a definitive object. Case studies and lesson to be learnt There are a number of cases which present different lessons with them. For instance, in the case of Rinehart v Welker[36], an agreement was attempted to be enforced by Gina Rinehart attempted to enforce the agreement, the effect of which was that her family would be able to arbitrate the disputes which related to the disputes regarding the trusteeship she her in the discretionary trust of the family. Some of the children tried to remove her from the post of trustee and also argued that this agreement was against the public policy since the jurisdiction of the court was outset regarding the trustees removal. Even though the Court of Appeal stated that the reason regarding drafting meant that the arbitration agreement could not be applied in this dispute, the majority held that such agreement could be given effect to. This case not only highlights that arbitration can be used in trusts to solve the disputes, but also that the terms of the trust drawing are crucial as these are referred to, in cases of disputes. Another significant ruling, which turns one of the benefits of the trust into a disadvantage, was that of Harris v Harris[37]. In this case, the Full Family Court stated that the property of a discretionary family trust could be included for the purposes of the matrimonial assets of the separating spouses. This means that the attempt of the property of the trust to not be used by the spouse of the children upon separation would not always hold to be true[38]. The Richstar case, i.e., Richstar Enterprises Pty Ltd (ACN 099 071 968) v Carey (No 6)[39] is another important case when it comes to the family trusts. In this case, the Court used their powers regarding the discretionary trust property. And French J considered the degree of control which the beneficiary had over the trust and also explored the concept of the trust being the alter ego of the beneficiary[40]. Conclusion The previous parts of this discussion highlighted the different aspects revolving around family trusts. The discussion highlighted the nuisances of trusts and the different reasons for which the trust form of business structure is selected by the people. Trust form of business structure helps in continuing the estate of the party even after their death. Particularly in the matter of family trusts, the individuals are able to transfer their property to trust, which is held by the family, thus their children get the assets, without having to make it their personal property and bear high taxes. The capital tax advantage available to the trusts further helps in reducing this tax liability. The income taxes are also reduced under family trusts as a trustee is selected who would bear the tax liability yearly. Instead of facing a risk of the will of the individual being disputed after their death, by opting for a trust form of business structure, they can continue their estate in perpetuity . The discussion also highlighted the other key advantage of the family trusts, which is asset protection, as by opting for this form of business structure, the assets of the beneficiary are protected from the creditors. This discussion also highlighted some shortfalls and certain issues which can be raised under family trusts. The key one in this regard, which leads to the first recommendation is that when the trust is being created, the three key certainties, i.e., intention, subject matter and objects have to be properly embodied in the trust. Also, there is a need for the overhauling of the entire system of trusts, particularly owing to the political debate which has been highlighted in the previous segment. Hence, it is recommended to drawn up an effective policy, which helps in stopping the ones who are mis-utilizing this business structure for avoiding their tax liabilities. Another important recommendation is to enhance the asset protection through Testamentary Trust. The last key recommendation is that while the trust is being formed up, there is a need to properly cover every aspect which surrounds the family trust so as to draw up an effective which is not disputed later on, as was found r egarding the arbitration clause regarding one of the case laws highlighted above. Till the times these recommendations are adopted, and possibly even after that, family trusts remains amongst the top choices when it comes to selection of a business structure, particularly for taxation benefits. References Bray J, Key Cases: Equity Trusts (Routledge, 2nd ed, 2013) Mattock J, Doing Business in Australia for China: How to Invest in Australia for Chinese (Australia China Business Alliance, 2014) McDonald I, and Street A, Equity and Trusts (Oxford University Press, 5th ed, 2016) Ramjohn M, Text, Cases and Materials on Equity and Trusts (Routledge, 4th ed, 2008) Dean v Cole (1921) 30 CLR 1 Dwyer v Ross (1992) 34 FCR 463 Harris v Harris [2011] FamCAFC 245 Knight v Knight (1840) 49 ER 58 Morice v Bishop of Durham (1804) 9 Ves 399; 32 ER 656 Re Golay [1965] 2 Al ER 660 Re Rules Settlement [1915] VLR 670 Richstar Enterprises Pty Ltd (ACN 099 071 968) v Carey (No 6) [2006] FCA 814 Rinehart v Welker [2012] NSWCA Australian Taxation Office, Family trusts concessions (2017) https://www.ato.gov.au/General/Trusts/In-detail/Family-trusts---concessions/ Australian Taxation Office, Specific rules for some trusts (2017) https://www.ato.gov.au/general/trusts/specific-rules-for-some-trusts/ Chan Naylor, Asset Protection (2017) https://www.chan-naylor.com.au/services/asset-protection/ Clear Docs, Family Trusts explained and Family Trust Elections explained (2017) https://www.cleardocs.com/extra-family-trust.html Fowler PM, Taxation of Family Trusts (2017) https://thefinancebase.com/taxation-family-trusts-2820.html Gardiner J, Advantages and Disadvantages of Family Trusts (11 July 2016) https://www.linkedin.com/pulse/advantages-disadvantages-family-trusts-joe-gardiner Gartrell A, Shorten's family trust tax plan a 'direct assault' on small business: Morrison (30 July 2017) https://www.smh.com.au/federal-politics/political-news/shortens-family-trust-tax-plan-a-direct-assault-on-small-business-morrison-20170730-gxlky9 Gibson Sheat, Family Trusts -Advantages and disadvantages (2017) https://www.gibsonsheat.com/Articles/Trusts/Family+Trusts+-Advantages+and+disadvantages.html Haan PD, and Riley A, Discretionary trusts and asset protection (20 February 2017) https://www.wolterskluwercentral.com.au/tax/income-tax/discretionary-trusts-asset-protection/ HopgoodGanim, Family Law Alert: Clarification on the treatment of discretionary trusts in property settlements (08 Feb 2012) https://www.hopgoodganim.com.au/page/Publications/Family_Law_Alert_Clarification_on_the_treatment_of_discretionary_trusts_in_property_settlements_-_8_Feb_2012/ Janda M, Trusts and tax minimisation explained (28 July 2017) https://www.abc.net.au/news/2017-07-28/trusts-and-tax-minimisation-explained/8752480 Micheals A, Tax debate: let's drop the rich vs poor rhetoric (14 August 2017) https://indaily.com.au/opinion/2017/08/14/tax-debate-lets-drop-rich-vs-poor-rhetoric/ Mirams A, Why You Should Set Up A Family Trust (16 January 2017) https://propertyupdate.com.au/why-you-should-set-up-a-family-trust/ My Monet Calculator, Which Business Structure Provides The Greatest Asset Protection? (2017) https://www.mymoneycalculator.com.au/which-business-structure-provides-the-greatest-asset-protection Revolvy, Australian trust law (2017) https://www.revolvy.com/main/index.php?s=Australian%20trust%20law Rostron G, What is a discretionary trust and what are the benefits? (2017) https://www.findlaw.com.au/articles/4606/what-is-a-discretionary-trust-and-what-are-the-ben.aspx Sales L, Labor promises to tackle the family trust tax problem (31 July 2017) https://www.abc.net.au/7.30/labor-promises-to-tackle-the-family-trust-tax/8761430 Tan J, Richstar The Courts Powers to Dismantle Discretionary Trust Structures (2017) https://www.corneyandlind.com.au/resource-centre/commercial/richstar-the-courts-powers-to-dismantle-discretionary-trust-structures/ The Dover Group, Chapter 05 Family Trusts (2017) https://www.dover.com.au/dover-way/part-19-legal-entities-and-structures/chapter-05-family-trusts/

World’s Histor an Example of the Topic History Essays by

World’s History Hieroglyphics is a formal writing system used by Egyptians which actually consist of more than 2,000 hieroglyphs characters. Every character represents a common object in ancient Egypt and the idea associated with the object hieroglyphs represents the sound of an object. Hieroglyphs on the later use were very time to consume that is why the Egyptians are encouraged to developed a cursive script called hieratic where all of the characters within are based on the hieroglyphs symbols. Also, in the early years after the development of hieratic the Egyptian begun using a script which was made even simpler than hieratic, this script was called demotic script. Today, Rebus has become the modern time use type of hieroglyphs writing. Rebus was defined as a picture puzzle that is capable of being sounded out through reading the sounds that were symbolized by the pictures. Need essay sample on "Worlds History" topic? We will write a custom essay sample specifically for you Proceed Literature, on the other hand, is the body of written works of language, period or culture and is literally acquainted with letters. The term has generally come to identify a collection of texts or work of art both of the fiction and the nonfiction such as fables, short stories, novels, myths, folktales and legends that may or may not have national implications. The term literature can be defined in numerous ways depending on the perspective of someone whos using it. It can be applied generally from the images up to the letters. Literature could also mean of only a text that was composed by letters or by Egyptian hieroglyphs. Biography is one type of literature developed by the Egyptians using hieroglyphics. Biography is the story of one persons life that was written or told by another person, in the case of the Egyptians by that time, the pharaoh. Another type of literature is the fable, fable or the story that teaches a moral lesson which often has animal characters. A folktale is another type; it is a story that has been passed down within a culture that may be based on the superstitious belief and feature supernatural characters. The folktale is the type of literature which consists of fairy tales and all the other stories that have been passed down through the generations. Legend, it is a type of literature developed by Egyptian hieroglyphics that was about the story which has been handed down and passed by over the generations and is believed to be based on history. A legend has a hero that was character by human and typically mixes fact and fiction. Myth, on the other hand, is a traditional story t hat has been established by a particular group or culture as factual and sacred. It centered on God and the supernatural being and explains how something came to be. Short stories are a fictional and narrative writing style that tends to be more concise and direct to the point than the longer works of fiction. Hieroglyphics were used by the Egyptians in order to develop and progress literature. Reference Ecrivain-Public. (2008). Arts literature writing professionals. Retrieved January 29, 2008