z_Trusts & Estate Planning
Govt introduces bill to hit minors
Tuesday 17th of October 2000
The Government yesterday introduced legislation into Parliament designed to stop people avoiding tax by putting assets into a trust in a child's name.
If the bill is pased tax certain distributions of trust beneficiary income to children under 16 will be taxed at the trustee rate of 33%, rather than the minor's marginal tax rate, which can be as low as 19.5%.
Revenue minister Michae...
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