china56 asked:
"Now heres a question - when are the proceeds of the sale of shares held for less than 12 months deemed to be income and not capital gains?? Is there a rule of thumb that should be applied?"
That will depend on the status of the trust: whether it is a trader or investor.
On using a company as one of the beneficiaries, I had mentioned before that a company, as a beneficiary of a trust distribution, cannot be the ultimate beneficiary, meaning the income retained in the company has to be distributed to the ultimate beneficiary eventually. I think you have got that piece of advice already, but do check again on the timing of the distribution to the ultimate beneficiary by the company; I don't think you can withhold distribution indefinitely.
Just my opinion, not a advice.
- Forums
- General
- trust fund for investment and trading
trust fund for investment and trading, page-13
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)