A matter of trusts

Article Abstract:

Australia's tax reforms ruled that discretionary trusts be taxed as companies, reducing the ability to use these trusts as tax shelters. Tax experts say the change is excessive, and point out that discretionary trusts are mainly used by businesspeople to hold assets associated with a business or investments. Investors managing discretionary trusts should consult tax professionals before adding to the trusts.

Australia

---

For older and richer

Article Abstract:

This article presents information on Australia's Pension Bonus Scheme, which allows anyone who is eligible for the country's old age pension to defer it and continue working and receive a tax-free payment of up to $22,081 when he or she retires. Relevant points include the requirements for the tax-free bonus, such as being of pensionable age.

Economic policy, Pension funds

---

Nothing to declare

Article Abstract:

New social security rules in Australia mean that investors applying for the pension will have to declare assets held in a family trust. Assets held in testamentary trusts or in private companies will also be affected.

Social policy, Social security, Social security law, Testamentary trusts

Similar abstracts:

• Abstracts: Pulling charts out of a hat. An alternative Window view. Sharing between Macs and I.B.M.'s
• Abstracts: The phoenix of the Tory party. Landlords and lawsuits
• Abstracts: Egghead moves jobs to cut costs. Ford idles sport-utility plant. Judge fines Microsoft $1 million
• Abstracts: The great artesian flaw. Cowboys and indigenes. Native title flaw

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.