“The typical next step would be... we'll make a family trust election in that trust, and we'll nominate the same person as test individual”
DM
David Montani
Accountants Daily Podcast Network ·
“The ATO maintains a database of trusts that have made family trust elections and also trusts in companies and so on that have made interposed elections”
David Montani · Accountants Daily Podcast Network · Under the Hood: The restrictive family control test
Play from 12:30
12:30
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What was described
Use the ATO’s trust election database, together with tax return disclosures, to cross-check whether a trust has previously made a family trust election and who the test individual is
Said nearby on the same subject
“We have to form a picture of all the clients' trusts, companies and so forth, what elections have been made, who are the test individuals, and we have to present that to the client”
DM
David Montani
Accountants Daily Podcast Network ·
“You can use the rollover relief, and you can transfer the assets... into a company, into a unit trust. That will help you avoid the 30% minimum tax on discretionary trusts”
SW
Stuart Weems
Investopoly ·
“The will can establish a trust, a testamentary trust, and it holds those assets for that beneficiary... income from assets... can qualify as accepted income for minors, taxed at normal adult rates”
PB
Paul Benson Guidance Financial Services
Financial Autonomy ·
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