Im actually working on an article about trusts in general and how the laws of our jurisdiction prohibit working in trusts, I came across your video and I promise it is one of the best explanatory contents I've seen so far regarding the trust, simplified, humorous, and informative ! thank you so much.
Hi how are you? I would love to read it when you are done, is there a link I can have to it when you are done? or maybe if you are on linkedin I can read it?
Thank you so much for this video, it is very informative & really enjoying the ease of diagrams with your explanations. Can you please make more videos for Topic 1,2 & 3. Will truly appreciate. 👌👌👍👍
Hi, this is a very useful info. the reason, I'm not using trust when buying investment properties us because if negative gearing. Can I do negative gearing inside trust. I'm considering buying the next one inside trust. Thanks
Thankyou for your video, it was well explained. I'm in a situation where i am leasing out a commercial property. The proposed tenants are corporate trustee's - can you explain the risk i face Thanks Peter
Fantastic video, thank you! Question @ 7:15 - "..the capital gains can be completely absorbed by capital losses". Would this mean that previous years' CG losses are first deducted from the current year's CG gains and THEN discounted by a further 50% CG Tax streaming?
Why do you keep saying rich folks? Define "rich". It's pretty judgemental. I'm not rich but i think the structure would be appropriate for me. I'm not offended, but it just seems really immature.
@@willhatch4667 I'm so glad you took the time to write to me. Please be advised that my name isn't Karen. Also, I love to be told that I'm rich. Sometimes I sit in my bathtub with thousands of $100 notes and swim in them. I'm not offended. Please advice actually, don't call me by name name, or Karen, please call me Mr mc Rich Rich you poor poor trollop.
Keep voting liberal and you wont have medicare completely. You can check how many medical tests, procedures they removed in their time making insurance pretty much mandatory for old folks. I am no fan of labor but liberal is worse.
Hi, I would like to know the most tax effective way of setting up a discretionary trust when you have investment assets, property in particular, and want to "move" them under the trust without incurring capital gains or minimising them at least.
I was doing some research into setting A family trust to buy property but came across a note about Land Tax in NSW. Individuals are entitled to land tax thresholds but family trusts are not entitled to it so family trusts need to pay land tax from the first dollar. Do you have any experience with this?
Perfect this is what i was after!!! I want to set myself and future family up i learnt about the Roth family trust. yes please make more on trusts ill be checking your channel out to see what videos you got. Thank you
As bookkeepers we obviously leave deciding the ideal business structure for our clients to their Accountant. However, during the year we are still responsible to code transactions correctly This can get particularly tricky when the owners of the business puts or takes money in/out of the business I’d love to see a video that explains how to correctly code these payments based on the relevant structure
Can you explain what a bookkeeper does compared to an accountant? For a trust just holding real estate, with not a lot of transactions, should I use a separate book keeper?
Thank you so much for this video, it is very enlightening🙏🏽 I come from a very poor upbringing and have been through some very challenging times. I will rest in peace knowing I have created financial security for all my descendants to come😌
Nice video! Questions: 1) can one of beneficiary become trustee? If not, who can we hire to manage? 2) Is there any issue of having kids under 18 part of trust? Understand, max $416 can be distributed with no tax. Many thanks!
Hello, Can the trust retain all income and not pay any beneficiaries? Also if you have no one for a beneficiary no family no one to trust can the trustee be a company and the beneficiary yourself?
Generally if a trust retains its taxable profits at the end of the year and does not distribute it to any beneficiary, the trustee will be taxed at the highest marginal tax rate eg 47%. Corporate trustees are common with the controller of the trust being the director of the trustee company. Beneficiaries can be the controller. Though this may have implications for asset protection during marriage breakdowns. Hope this helps
you all prolly dont care at all but does someone know of a trick to get back into an Instagram account?? I was stupid lost the password. I appreciate any tricks you can offer me!
Very informative information. Perhaps if you can research more on asset protection in the unexpected event of insolvency or action by a creditor , how this can effect the trust and the trustee and directors . Regards
I've seen comments about this video being funny but I'm pretty sure this was just informative and there weren't any jokes... not sure what's funny. Anyway great video
yes, it's one of the more complex types of structures. Accountants would typically charge a bit more than a company. there's more admin too like a year end trust distribution resolution and year end tax planning required to determine who to distribute the trust income to.
@@taxnuggetsacademy7553 Thanks for your reply! Would this answer still be the same if the trust is just set up and there's no income flowing into it just yet?
It was the worst decision I ever made to create a family trust with the proceeds left to me from the family court. The only reason I did it, I was advised at the time, to safeguard my remaining assets for me and my children if I ever married again. All that money was put to buying a family home which I and my children lived in for 24 years. When I sold it I was up for a huge CGT bill.
![Superannuation Tax Changes at Age 60: What You Need To Know [Australia]](http://i.ytimg.com/vi/h7F7Fc_ZpnE/mqdefault.jpg)
Im actually working on an article about trusts in general and how the laws of our jurisdiction prohibit working in trusts, I came across your video and I promise it is one of the best explanatory contents I've seen so far regarding the trust, simplified, humorous, and informative ! thank you so much.
Hi how are you? I would love to read it when you are done, is there a link I can have to it when you are done? or maybe if you are on linkedin I can read it?
Love your humor! You’re a fun explainer!
Surprised to see you here!
This video explained family trusts very well, esp with the visuals! Thank you
Thank you so much for expanding about Trust in 8 minutes.
Great video. You explained it really well.
Nice video. Thanks for creating and sharing it! 😀👍
Thank you so much for this video, it is very informative & really enjoying the ease of diagrams with your explanations. Can you please make more videos for Topic 1,2 & 3. Will truly appreciate. 👌👌👍👍
Amazing video
Hi, this is a very useful info.
the reason, I'm not using trust when buying investment properties us because if negative gearing. Can I do negative gearing inside trust. I'm considering buying the next one inside trust. Thanks
How do you run a small business under a trust ?
That phone drop should be how i put it away every morning 😂
Can discretionary trusts access the cgt discount if they have a corporate trustee?
Thank you. This is amazing
Thankyou for your video, it was well explained. I'm in a situation where i am leasing out a commercial property. The proposed tenants are corporate trustee's - can you explain the risk i face
Thanks Peter
You mist the largest trust of all and that’s our name in capital letters, it’s a trust and it’s been traded without the living trustee,s knowledge.
Helpful video, thank you.
Fantastic video, thank you! Question @ 7:15 - "..the capital gains can be completely absorbed by capital losses". Would this mean that previous years' CG losses are first deducted from the current year's CG gains and THEN discounted by a further 50% CG Tax streaming?
Yes that's right. Thanks!
Check out more tax videos here www.taxnuggetsacademy.com.au
Except where asset has been held for less than 1 year.
Do you have anything for non family members forming trust
Great video, except for the mysandry.
Why do you keep saying rich folks? Define "rich". It's pretty judgemental. I'm not rich but i think the structure would be appropriate for me. I'm not offended, but it just seems really immature.
What a weird Interpretation karen. If you were offended, no one would care.
@@willhatch4667 I'm so glad you took the time to write to me. Please be advised that my name isn't Karen. Also, I love to be told that I'm rich. Sometimes I sit in my bathtub with thousands of $100 notes and swim in them.
I'm not offended. Please advice actually, don't call me by name name, or Karen, please call me Mr mc Rich Rich you poor poor trollop.
@@anthonyonline4740 that's pretty judgemental 😂
@@willhatch4667 I like that's you laughed. I hope you have a fantastic day.
Labor did win. Great video. Can’t stand Labor
Keep voting liberal and you wont have medicare completely. You can check how many medical tests, procedures they removed in their time making insurance pretty much mandatory for old folks.
I am no fan of labor but liberal is worse.
Hi, I would like to know the most tax effective way of setting up a discretionary trust when you have investment assets, property in particular, and want to "move" them under the trust without incurring capital gains or minimising them at least.
I was doing some research into setting A family trust to buy property but came across a note about Land Tax in NSW. Individuals are entitled to land tax thresholds but family trusts are not entitled to it so family trusts need to pay land tax from the first dollar. Do you have any experience with this?
Really cleared up a lot of questions my business partner and I had. Thanks for the great video!
Perfect this is what i was after!!! I want to set myself and future family up i learnt about the Roth family trust.
yes please make more on trusts ill be checking your channel out to see what videos you got. Thank you
As bookkeepers we obviously leave deciding the ideal business structure for our clients to their Accountant. However, during the year we are still responsible to code transactions correctly
This can get particularly tricky when the owners of the business puts or takes money in/out of the business
I’d love to see a video that explains how to correctly code these payments based on the relevant structure
Can you explain what a bookkeeper does compared to an accountant? For a trust just holding real estate, with not a lot of transactions, should I use a separate book keeper?
Is it possible for Trusts in Australia to utilise Insurance policies similar to the Whole Life Insurance policies in the US?
Thank you so much for this video, it is very enlightening🙏🏽
I come from a very poor upbringing and have been through some very challenging times.
I will rest in peace knowing I have created financial security for all my descendants to come😌
Nice video!
Questions: 1) can one of beneficiary become trustee? If not, who can we hire to manage?
2) Is there any issue of having kids under 18 part of trust? Understand, max $416 can be distributed with no tax.
Many thanks!
What compliance is required by the corporate trustee?
Hi Would like to know if trustee becomes liable for a credit or a trustee is sued, are the assets in the trust still protected?
More trust related videos would be awesome. Still don't understand enough to say which kinds the video should cover though. Thanks
My God this is the best explanation of trusts in a simple format. Great video. Looking forward to exploring more of your videos.
Love it how you gave the example of a "pretty boy" gold-digger, as if we don't all know that 99% of the time it's a female digger lol.
And dad staying home to look after the kids lol.
Great video. Would love to see more videos about trust structures and how to save your assets from even family members ex partners etc ❤
Hello, Can the trust retain all income and not pay any beneficiaries? Also if you have no one for a beneficiary no family no one to trust can the trustee be a company and the beneficiary yourself?
Generally if a trust retains its taxable profits at the end of the year and does not distribute it to any beneficiary, the trustee will be taxed at the highest marginal tax rate eg 47%.
Corporate trustees are common with the controller of the trust being the director of the trustee company. Beneficiaries can be the controller. Though this may have implications for asset protection during marriage breakdowns. Hope this helps
How to minimums the tax when passing the trust to next generation?
LEGEND. THANK YOU
Please keep making more videos like these
Excellent - thanks - well done - just what I needed to explain what advantages there are
you all prolly dont care at all but does someone know of a trick to get back into an Instagram account??
I was stupid lost the password. I appreciate any tricks you can offer me!
@Emerson Chaim instablaster ;)
Very informative information. Perhaps if you can research more on asset protection in the unexpected event of insolvency or action by a creditor , how this can effect the trust and the trustee and directors . Regards
Thank you.
I've seen comments about this video being funny but I'm pretty sure this was just informative and there weren't any jokes... not sure what's funny. Anyway great video
great and clear . Thank you. I now have a clear understanding.
Now I finally understand why I set up a trust. I was convinced of the benefits when I created it, but I felt the explanation wasn't clear till now.
Family trust elections please
Really good video, especially given changes I am making - please do more of them.
Great explanation, I now fully understand how all this works & am grateful advice given was spot on.
re: privacy, couldnt people just do a equifax[company] search on the directors of a corporate trustee to find out the owners?
You explained it well. Now I understood. Thank you for this video.
Bless. The comments hear are interesting to say the least. This is the most straight forward example I've seen
Can we have a video about Corporate trustee. Busing assets under corporate trustee and tax lodgement of corporate trust.
Excellent video. Really valuable valuable learn more about how everyday people can keep more money in their pocket.
Just the info I was looking for, great video.
Q: love to see a video on disability trust pls
Great content, thanks for sharing 💚🌍
Amazing content, really enjoyed the ease of diagrams with your explanations.
Thank you 🙏
Thank you!! Great video and well explained :)
Can you pls post video for hybide trust
What is a trustee directed product???
Excellent presentation. thank you.
Great video, thanks
Great video, thanks.
Can foreigners set up a Trust in Aus?
Can a trustee also be a beneficiary?
very informative . thank you
A playlist on trusts would.be great
What are some contemporary issues around taxation of trust?
FTEs noted
Thanks for the explanation 😊
3:10 I see what you did there lol
great video !!!
If you set up your business as a trust instead of a company do you require an ABN still?
Yup!
Love this video!
Great video cheers!
Excellent material 👌
Short and sweet !! nice one
Very well explained. Thank you! :)
I have a question
I have a few properties and would like to know what is the easiest way to start a trust also will l have to pay stamp duty to start the trust
Thank you
Thank you. Good video
Very well explained
Good vid
Great video
great video
Thank you so much
This was a great video!
Thank you
Great video!
This video is very politically correct, bordering on woke
How so?
I'm falling asleep here.
Is there an ongoing fee for discretionary trusts?
yes, it's one of the more complex types of structures. Accountants would typically charge a bit more than a company. there's more admin too like a year end trust distribution resolution and year end tax planning required to determine who to distribute the trust income to.
@@taxnuggetsacademy7553 Thanks for your reply! Would this answer still be the same if the trust is just set up and there's no income flowing into it just yet?
@@jacksonh634 should be cheaper if no income
It was the worst decision I ever made to create a family trust with the proceeds left to me from the family court. The only reason I did it, I was advised at the time, to safeguard my remaining assets for me and my children if I ever married again. All that money was put to buying a family home which I and my children lived in for 24 years. When I sold it I was up for a huge CGT bill.
I'm confused, didn't you only pay CGT of 50% because you owned the property for more than 1 year?
Interested about Trust Accounting
Noted!
Thank you for this video. It clearly explained the concepts. Now I have a basic understanding.
The man is the gold digger huh ?