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The Trust Debate... An ALP Win, page-36

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TheColonel

13,181 Posts.

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01/08/17

12:37

Post #: 26213835
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Originally posted by pugsley100 ↑

If they close trusts they will operate using partnerships.

People operating through discretionary trusts to minimise tax might not close the trust if they are also requiring the asset protection.

Their accountants might advise that instead of distributing the trust income to family members they instead might employ the family members as PAYG employees. Those payments would then become a tax deduction for the business in the trust.

People would have to do their sums and compare the proposed 30% base tax rate for discretionary trust distributions, to other methods of distributing income to family members.

Treasurer Morrison is campaigning on the subject saying that it won't raise much income, consequently doing Labor's work for them.
Nothing to be worried about.
Who advises these people?

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you can use partnership structure for asset protection using the correct structuring and entities. sigh nfi
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