Purporting to distribute money to children to take advantage of their tax-free thresholds sends
a message about how important it is to be truthful when complying with the tax law.
The Australian Council of Social Service has called for the tax treatment of private trusts to be tightened, which it says could save $1.5 billion in 2017-18.
Discretionary trusts allows for the “dishing out” of gifts, often to family members.
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In the lead-up to a crucial federal budget in May, it could be argued that requiring the Commission of Audit to identify revenue trends that could pose a risk to the budget’s structural integrity could…
Tax benefits have made family trusts an increasingly popular financial arrangement.
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Family trusts have featured heavily as part of recent media reporting of the circumstances of two very high-profile families: the Rineharts and the Obeids. Of course, these are not the only families that…