Question
How does the NowInfinity Discretionary Trust Deed define "Distributable Income"?
Answer
The following screenshot is taken from the sample NowInfinity discretionary Trust Deed:
Clause 1.12.3 provides an option for ‘Distributable Income” to mean “an amount determined on any other basis as the Trustee determines including any other basis referred to in or permitted by clause 18 or any other provision of this Deed”.
The Trustee can determine the Distributable Income “on any other basis as the Trustee determines” under this subclause.
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