Changes to company tax rates Question: With the new definitions/changes to company tax rates, do bucket companies that get business...
Children under 18 pay high rates of tax on unearned income. Their tax rate is generally a flat 45% if they earn more than $1,307 per year (as of...
Only a beneficiary of a trust can benefit from the income and/or capital of the trust. With discretionary trusts the beneficiaries are those...
Hi, I have opened a trust in SA and my accountant paid the stamp duty in Victoria. One lawyer says, Because I am living in Victoria, Stamp...
The settlor is the person who gifts property to the trustee to start off a discretionary trust, or sometimes a unit trust. For tax reasons they...
In ‘Tax Tip 325: Trusts Can Negative Gear’ I showed that trusts can negative gear, just like any other taxpayer can. I also mentioned that it...
Hi All, new here, so first want to say hello. I also want to send my appreciation to some who have posted some great posts on information related...
Under a family law property settlement due to a break up of a relationship ‘full and frank disclosure’ by the parties is necessary. Without full...
Unlike companies trusts are not separate legal persons. When a trust enters a contract it is the trustee that enters it. The trustee is personally...
Have heard it can get tricky buying international shares via a trust. Anyone know much more about this or have any resources to read further?...
A comment that I hear often is that ‘trusts cannot negative gear’. This is not correct. Trusts can negative gear and so can SMSFs and companies...
I was amending a trust deed for a client and came across some poor wording which could have exposed all of the asset of the trust to creditors....
There are a number of differences between companies and trust. I have made a list of 3 of the major differences in the tax area below: a)...
In NSW companies and trustees acquiring land can be up for 8% additional stamp duty and 2% pa. extra land tax if ‘foreign persons’ are...
I am often asked what the tax rate for trusts is. It is generally nil as the trust, although a tax entity, will not retain any income on which it...
A trust is not a legal entity so can’t borrow money. What happens is that the trustee of the trust borrows the money in their capacity as trustee...
Different trusts will have different terms and generally I will set up trusts for shares differently for trusts to hold real property. For a...
Estate Planning Consequences of Recording the Beneficial Ownership of Shares in a Private Company Wrongly If someone dies and owns shares in a...
It is confusing when setting up a trust because they are thought of as a ‘structure’ or an ‘entity’ like a company is. But trusts are just...
The trustee of a discretionary trust might make an individual beneficiary presently entitled to a capital gain of the trust. This individual...
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