Nov 20, 2019
Welcome to Finance and Fury, The Say What Wednesday edition.
Today's question comes from Gab.
Hi Louis, thank you (as always) for the great content. I've got another question that I've struggled with recently, and I'm hoping you can shed some light on the topic. I've setup a family trust for our investments, but, as you know, they have a limited shelf life of 80 years. What happens when a family trust comes to the end of its life? What happens with the assets and are there CGT or stamp duty liabilities? Is there a way to minimize costs and maintain the trust structure? Thanks, Gab
Hi Gab, no worries at all! Glad to hear you are enjoying it.
– not a tax expert – important to get legal advice - but this is what I know
Stamp Duty – On property (not shares/Managed Funds) –
If there isn’t a way out of CGT being triggered - It is normally best to start planning in advance of vesting, through the transfer of assets over a number of years in advance to minimise CGT through timing.
(i.e. investment bonds or companies): Options –
Thanks for the question and thanks for listening today. If you want to get in contact you can do so here: http://financeandfury.com.au/contact