Forum Replies Created
Sue [
]I think anybody who still even wishes they were young should consider themselves as young enough for the group[
]Cheers
MelAw Josh, you’re a sweetie[
]Cheers
MelSooshie,
Ooops…before we get carried away….
I suggested the party…then Westan suggested Steve pay…
I thought I’d clarify that Steve hasn’t made mention of a party… YI know, but I thought a game of ‘chinese whispers’ might be a good way to get Steve in[
]Muppet, I’ll chip in to help you get over here for the party!![
] Although, a Scottish Kiwi, I’ll have to think about that…..Cheers
MelHi Huey, long time no post!
Watch out for sis – you might need to chaperone him!!!![
]As for age group, I guess it depends on who your daughter gets along with best. SIS would be a really good example of somebody her own age achieving so much in a short space of time, as long as her starting place is also similar. Or if not, it depends how he approaches it I guess – I would probably be intimidated by somebody so successful so young if I had had no idea myself.
Cheers
MelSorry Westan, I went back and found that post, and you’re right, Muppet didn’t say you were Santa. But I’m sure he said something somewhere, and you got upset as you felt that your credibility as the ‘forum hunk’ had been dashed[
]Top idea re Steve putting on a party. I’ll be there[
]Cheers
MelI reckon it takes that long to type it![
]Cheers
MelI did see that one sis, but I thought I’d already got you in the other post, so didn’t need to offer again![
]Cheers
MelI’ll bet a million bucks that there will be no rate increase in January!![
]Now, February, I won’t take you up on that one!!
Cheers
Mel
Unfortunately you can end up being double taxed doing it this way as the compnay pays 30% and then the person receiving the money pays at their marginal rate.This is true, but the company can then choose when it wishes to distribute this money. It can wait until there is no income for any of the shareholders (which may be on retirement), and the franking credits all then apply.
In the meantime, the money can be lent back to the trust, and it can continue investing. I would only distribute to the company once all other beneficiaries are in the higher tax brackets. With my number of beneficiaries, that probably ain’t gonna happen[
]I’d really recommend Trust Magic by Dale GG. There are so many after tax expenses that can be bought by the trust pre tax that he explains. Music CDs, Chocolate bars, travel allowance, any number of things. You could end up having bought things you usually buy anyway, tax free, and having no tax to pay on the trust income as it has all been ‘expended’.
Cheers
Mel
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