Tag: family trust
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To trust or not to trust – the benefits of a discretionary (family) trust – final comparison
I have discussed the benefits of a discretionary trust aka family trust for minimising capital gains tax (CGT). I have also discussed the benefits of a discretionary trust from minimising taxable income. For this last part I am going to compare a discretionary trust against a direct 50-50 split over an average person’s lifespan. Again…
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To trust or not to trust – the benefits of a discretionary (family) trust for minimising income tax
A few weeks ago I blogged about the insignificant benefits of a discretionary (or family) trust compared with a basic 50-50 joint split when it came to Capital Gains Tax (CGT), this week I will compare the two when it comes to rental income. Rental income is different to CGT in that rental income is…
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To trust or not to trust – the benefits of a discretionary (family) trust for minimising CGT
Discretionary or family trust is a trust where the income generated in the trust can be distributed to the beneficiaries at the discretion of the trustee, or simply the income can be divided up however one pleases. It is commonly known that a discretionary trust can be used as a form of tax minimisation, but…