that's the issue. You can distribute income many ways without a trust and using children with this unearned personal exertion income only gives them $412 a year tax free before they pay a MTR of 66% plus MCL and then drop down to the Highest MTR for an adult plus MCL. This year trust are being targeted as I understand but an accountant may well know more on who more audits are targeted for, and with all this awesome funding aimed to capture those fiddling a little too much.
"As long as my wife actually knows where my office is located, then I could pay her a bonus on top of the awesome wage she is receiving and essentially receive an outcome as if in partnership or income splitting"
I struggle with complicating it more than that. Im sure many would disagree. But I also value simplicity
AVZ Price at posting:
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