All Topics / Finance / Corporate Trust – CGT Discount?

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  • Profile photo of JJandJoJJandJo
    Member
    @jjandjo
    Join Date: 2003
    Post Count: 29
    May 1, 2005 - 8:16 am

    I am set up as a corporate trust for investing purposes. A discretionary trust, not a unit trust.
    Does that mean I cannot get the 50% CGT discount on gains held for more than 12 months?

    Thanks

    JJ

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 2, 2005 - 2:02 am

    I beleive the CGT will flow through to the beneficiaries. So if it is a person that receives the capital gain, they would receive the discount. Whereas if the gain went to a company, then it would not.

    ps. I am not an accountant

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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