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fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Family trusts

Posted on Sep 4, 2015 by CFL Financial

While the ATO continues to crack down on its tax minimisation strategies, quite a few legal pathways to paying less tax while preserving wealth for retirement or estate planning purposes still exist.

Family trusts have significant tax-saving abilities, and can save high-income earners a fair amount of money over a few years by apportioning wealth to members in lower income brackets via a strategy called streaming.

Streaming income allows trustees to place a high proportion of the trust’s earnings into the names of their adult children (who are subjected to a lower marginal tax rate). Using the kids’ $18,200 tax-free threshold also means the investment income is not be taxed, and franking credits would are refunded. However, if children are below the age of 18, it may not to use this strategy since any investment income they earn above $416 attracts a much higher tax rate.

While streaming is a great option for minimising a family’s overall tax burden, it is not always a straightforward practice and may warrant professional advice. Here are two tips when using the family trust structure for tax purposes:

Take advantage of the tax-free thresholds: Make sure to take advantage of the $18,200 tax-free threshold if you have younger members in the trust, by transferring a higher allocation of the trust’s investment income to them.

Put capital gains and franking credits with low-income earners: Placing a higher proportion of profits to low-income earners can result in huge tax savings.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

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Brisbane,
QLD, 4001

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