hey guys,
I have been looking online to get an answer and I can't seem to get the right info. So here goes. If I was to set up a Trust (not even sure what type of trust would work) and give say $100k to it, does the trust have to pay tax on receiving the $100k?
My understanding is that the ATO considers Trust to be a business and so it has to pay tax of 30% on all income received. I'm considering doing something like this so that I can invest in shares.
Thanks in advance.
Northy.
I have been looking online to get an answer and I can't seem to get the right info. So here goes. If I was to set up a Trust (not even sure what type of trust would work) and give say $100k to it, does the trust have to pay tax on receiving the $100k?
My understanding is that the ATO considers Trust to be a business and so it has to pay tax of 30% on all income received. I'm considering doing something like this so that I can invest in shares.
Thanks in advance.
Northy.
Trust and Tax
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