Really well explained! Trusts definitely can be great for a lot of situations. Like you've said though, you really need to look at your own situation to work out whether it is actually the correct structure. Espeically for those that are planning on running a business through it.
Hi Brad. Thanks for explaining what a Trust is. How much do you need to hold in a Trust to make it worthwhile and would an Accountant or Solicitor help set this up?
hi Brad, thanks for the nice explanation. Also without a trust, how regular joint accounts such as joint bank accounts interest work in tax time? how that interest is put on two individuals? also if we have assets etfs how dividends are taken in to consideration when that is a joint couple brockage? (without a trust?)
Hi, if an asset is owned jointly any income and gain is split equally between the owners. For example, if a husband and wife owns a joint savings account and that account earns $100 interest, $50 would be taxed in the husbands name and $50 would be taxed in the wife's name
Hey mate is it a good idea to make your family trust the beneficiary of your life insurances? Does this effectively avoid probate and also any will contests when estate planning? Cheers
Hi Brad, I have been researching on the internet for a while. Can I as the trustee deposit money into the trust's account? Does the transferred money count as the trust's income? Thank you.
Hi, yes you can deposit money into the trusts account but no it's not classified as income to the trust. It is generally retained as a loan to the trust on the trust balance sheet
Really well explained! Trusts definitely can be great for a lot of situations. Like you've said though, you really need to look at your own situation to work out whether it is actually the correct structure. Espeically for those that are planning on running a business through it.
Yeah operating a business through it is a whole different kettle of fish, you would understand that better than most!
Loved it! Great and simple explanation! Would love a video on family trusts and business!! 😉
hey mate have u got any videos with a deep dive into discretionary trust with a corporate trustee ,,, ps man great content
Hi Brad. Thanks for explaining what a Trust is. How much do you need to hold in a Trust to make it worthwhile and would an Accountant or Solicitor help set this up?
hi Brad, thanks for the nice explanation. Also without a trust, how regular joint accounts such as joint bank accounts interest work in tax time? how that interest is put on two individuals? also if we have assets etfs how dividends are taken in to consideration when that is a joint couple brockage? (without a trust?)
Hi, if an asset is owned jointly any income and gain is split equally between the owners. For example, if a husband and wife owns a joint savings account and that account earns $100 interest, $50 would be taxed in the husbands name and $50 would be taxed in the wife's name
@@GuidedInvestor that make sense , thanks 👍
Hey mate is it a good idea to make your family trust the beneficiary of your life insurances? Does this effectively avoid probate and also any will contests when estate planning? Cheers
Hi Brad, I have been researching on the internet for a while. Can I as the trustee deposit money into the trust's account? Does the transferred money count as the trust's income? Thank you.
Hi, yes you can deposit money into the trusts account but no it's not classified as income to the trust. It is generally retained as a loan to the trust on the trust balance sheet
I was under the impression that Franking credits are apportioned at the same ratio as the shares to the beneficiaries. Is that not the case?
Can a trustee be also the beneficiary?
They sure can
If its an unregistered trust you don't have to lodge a tax return.
Do Australian trusts protect you from Gold diggers or divorce? Thanks
no. u need to see a lawyer and have a prenup writen into the trust now as family trusts dont protect u from family court any more (they used to)
@@MrGeddes85 Thanks