All Topics / Legal & Accounting / beneficiaries of discretionary trust

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  • Profile photo of hk0617hk0617
    Member
    @hk0617
    Join Date: 2010
    Post Count: 3
    October 31, 2010 - 9:55 am
    Terryw wrote:
    Unlimited from the trust point of view.

    If you are talking tax, then you have to look up the ATO website and find children's tax rates and also consider the low income rebate.

    I think it is about $3,600 pa before they have to pay tax now – this is on unearned income. If they have jobs and get salary etc, then they are taxed at adult rates and may earn up to $16,000 pa and no tax.

    TerryW,

    Thanks for your information. I found the ans I was looking for from ATO site (which is what you wrote).

    Regards
    HK

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 31, 2010 - 11:11 am

    What was the exact figure that a kid can get before having to pay tax?

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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