What are the benefits of a family trust

Family trusts offer a variety of benefits, that's why plenty of people choose to set one up.

Some of the benefits of setting up a family trust include:

Asset protection– such as the ability to buy a house for a child to live in without ownership being forfeited because the ownership remains within the trust.

Minimising tax–trust distributions means lower incomes for tax purposes.

Planning for retirement savings– the flexible structure of trusts presents an opportunity to accumulate wealth that can supplement superannuation savings.

Flexibility to invest in property– unlike super, holding assets within a trust doesn’t have the same strict rules.

Capital Gains Tax (CGT)– family trusts have CGT advantages compared to companies. This is because the 50 percent discount factor on capital gains received for assets retained for at least a year applies to trusts but doesn't apply to companies.

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Jason Gwerder
Wednesday, 21 June 2023

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