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If Individual A removes himself as Trustee will it result in a capital gains tax (CGT) event for the Trust?

No. As per the note to section 104-10(2) of the Income Tax Assessment Act 1997 (ITAA 1997), CGT event A1 will not happen merely because of a change in trustee. The proposed changes are considered within the Trust Deed and therefore will not cause CGT event E1 or E2 in section 104-55 or section 104-60 of the ITAA 1997 to happen.. This ruling applies for the following period : Period end 30 June 20XX The scheme commences on: 1 July 20XX

The Trust has three appointers being the company, Individual A and Individual B. The Trustee of the Trust is the company and the directors of the company are Individual's A and B. Individual A intends to remove themselves from the role of Trustee and director for personal reasons. There is no plan to replace Individual A as a trustee. The Trust Deed contemplates the resignation of a Trustee. Under the deed, it must be in writing and will take effect from the date specified. The Trust Deed states that the number of trustees at any time can be one but no more than four.

Income Tax Assessment Act 1997 subsection 104-10(2) Income Tax Assessment Act 1997 section 104-55 Income Tax Assessment Act 1997 section 104-60