Closer to Certainty for Minimum Taxation of Trusts: Treasury Releases Draft Legislation
After announcing the intended introduction of a minimum 30% tax on discretionary trusts as part of the 2026/27 Federal Budget
The Acis
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Traditional
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Robotic Process
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Product
Integrity |
Products developed by inhouse experts & industry panel
Comprising accountants, lawyers, SMSF experts. |
Precedent-based products
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Products developed by external law firm with no further legal
review
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Personal Service
& Expertise |
Expert team scrutiny
over every order Every document is produced under the supervision of our inhouse legal team. |
Archaic, manual system driven by lawyers
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Low-to-no service
No validation of data. Slow/no tech support. |
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Smart Tech & Integrations
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Market-leading platform
Smart tech & integrations with leading 3rd party providers. |
Limited tech & integrations
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Robotic template system
Real costs not understood. Some integrations. |
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Risk
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Acis Legal is responsible for the integrity of the final
product
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Law firm is responsible for the final product
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100% risk with the user
Non-lawyer advisers take responsibility for legal documents. |
Acis is Australia’s largest full-service provider, distinguished from other players by our inhouse law firm. We bear full responsibility for the integrity of each of our products, with every document produced under the supervision of our legal team.
The Acis model addresses the biggest issue we have observed in the industry - the unacceptable commercial and professional indemnity risks being placed on non-lawyer advisers by other providers.
Traditional law firms supply documents to clients using largely manual processes, with limited technology or integrations. While there is lower risk to the user, the turnaround time is slow, it is expensive and the product integrity rests on an archaic precedent based system.
These companies supply template legal documents without taking any responsibility for validating the data provided by users. They allow accountants (and other non-lawyers) to produce legal documents without legal review/sign-off.
The responsibility for errors – and the reputational and financial risk – is left squarely on the adviser’s shoulders. To name a few systems using this model: NowInfinity, Cleardocs, trustdeed.com.au, LightYear Docs and MYOB.
Most accountants we speak to aren’t aware of this. It’s a professional indemnity risk we’ve had confirmed independently, and encourage you to do the same.