All Topics / Legal & Accounting / Accessing Capital Gains From a Trust

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  • Profile photo of rx2_73rx2_73
    Member
    @rx2_73
    Join Date: 2003
    Post Count: 24
    February 12, 2005 - 7:39 am

    Hi,

    I have a hybrid disc. trust which has made a significant profit this year. However I want to distrubute that profit to person X before the end of the financial year ie. End of June.

    Is there any problem doing that? Of course the tax will still be paid come July on the capital gain, but person X needs access to the profit now.

    Btw I am the trustee of the trust.

    Cheers

    Robert

    Profile photo of GrantH_1974GrantH_1974
    Member
    @granth_1974
    Join Date: 2004
    Post Count: 190
    February 12, 2005 - 8:03 am

    I’m not an accountant but my understanding is that there would be no problem distributing the capital gain now.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 12, 2005 - 1:34 pm

    I beleive that is how it works!

    Terryw
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    North Sydney
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Viewing 3 posts - 1 through 3 (of 3 total)

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