International Trading Account for Minor / Child

Does anybody know of a platform which offers an international share trading account for a minor / child? There's plenty that cover Australian shares only.

 

Thats unwise for tax purposes. The tax rate on unearned income for minors is 66%. Many countries will have issues with a parent acting as trustee for a child and will use the parent TFN as the identifier for global reporting.

 

@bamute - did you every find a solution for this?

The one thing on my son's Christmas list is a share in Apple. He is also an Excepted Person, so the penalty tax rate for minors does not apply.

 

If he is an excepted person would there be a trustee acting for him? The trustee could open the account.

 

Thanks @Terry_w . There is no formal trust deed, which seems to be the barrier for most of the trading platforms if doing international trading. I have done a work around buy purchasing an ASX ETF which includes Apple - fingers crossed this gets the tick of approval Christmas morning.

 

There doesn’t need to be a deed but you could always have one drawn up

 

A couple do it such as Selfwealth. Easy to invest internationally in shares without dividends, therefore avoiding tax as a minor and the need for tax returns. The children can deal with capital gains when they come of age using their own marginal rate.

 

Div yield for apple is so low that there isnt a tax issue to be worried about. Apple are sitting on a massive cash / short term investments stock pile. = $160billion USD but has $100b of borrowings longer term. . Qtly profits around $30billion. All USD of course.

 

wonder if they have an offset account?