All Topics / Legal & Accounting / Company or trust for share trader, ideas?
My taxable income is getting to the stage where it is 40%+
My plan is to do all my Share trades through a separate identity, Company and Trust structure
The original plan (plan A) was to have a set up liike this,
(1) TRUSTEE COMPANY
V
(2) DISCRETIONARY TRUST
/ V
FAMILY MYSELF (3) EXTRA COMPANYThe plan was to run all investments through the discretionary trus (2),
pay any extra income to family and (3) companyI had a chat with my accountant yesterday who told me to hold off until after june 30
as the ATO is looking into these types of structures and could even be deeming them tax evasion.
Has anyone else heard whats goin on here?(Plan
So now im thinking i might just set up a trading company for now ((3) on the above diagram) to do my share trading,
Then at a later date (6 months time if need be) set up the trust structure with (3) as a benificiary.Plan B still should stil be all good?
Is there anything I should know before setting up company (3)?Any comments/ ideas will be helpful, thanx in advance
BTW it will be at least 12 months before i will be buying property again, so there is no great rush to have the trust set up
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