Eight year old and already owns (part of) property

Crazy way 8yo earned $170k - realestate.com.au


And she earnt $170k

 

Dupe

 

The devil is in the detail - the older kids put in $2000; the properties are owned in a trust; this young one saved her pocket money from chores ...

"The older children contributed about $2000 each for the home in Clyde. The rest of the deposit and stamp duty costs were paid for by Cam and his wife Felicity, who drew equity out of their own investment home to help fund the purchase."

 

Now explain it to me like I was a 2 year old.

Unless it's a TT, under 18's are taxed punitively. Tax-wise it makes little sense unless they're able to distribute any profit to an adult or trapping any NG benefit within the trust for a long time.

 

The whole scenario makes no sense. Typical journalistic babble.

 

Welp, there goes the FHOG for that kid!

 

That move will cost them plenty..in lost benefits when she buys her own property