Skip to main content ↑ ↓
Recent Posts
1
Blah-Blah Bar / Re: General Discussions
Last post by dodge -
Thanks EB - when discussing discretionary trusts, it is probably important to distinguish them!  Without having looked at this, I assume that the recipients of distributions would receive the franking credit?
2
Blah-Blah Bar / Re: General Discussions
Last post by ElwoodBlues1 -
How I understand it is that Discretionary testamentary trusts are set up in a will and are not taxed when at death but when they are disbursed.The reforms would change that by applying the minimum rate on a trust’s taxable income before distributing it.
3
Blah-Blah Bar / Re: General Discussions
Last post by dodge -
is that most of the taxes they're bringing in, particularly capital gains, is a tax on money thats already been taxed! 
[/quote]

How has a capital gain already been taxed?

Discretionary Trusts will be taxed and then a franking credit applied to the recipient.  This was first floated in the early 2000s (there was a lot of work preparing for this to come in).
6
Blah-Blah Bar / Re: General Discussions
Last post by Thryleon -
Quote from: ElwoodBlues1 – on
Quote from: northernblue – on


Your last 1/2 sentence is the only correct bit of all that, the rest is hysteria.
They are taxing Discretionary trusts.....thats the facts.
Expected return is 4.5 Billion over 5 years...
but its not a cash grab, and the elephant in the room, is that most of the taxes they're bringing in, particularly capital gains, is a tax on money thats already been taxed! 

Thats why people are getting annoyed.
8
Robert Heatley Stand / Re: AFL Rd 11 2026 Pre Game Predictions Carlton vs Port Adelaide in Adelaide
Last post by Gointocarlton -
Quote from: Sexybronco – on
Quote from: Gointocarlton – on
Campo on his home deck would have to be chance as well.
Probably, Flynn Young also needs a game at some level as he didn’t play last week. Not a direct replacement for Hollands hence why Acres will probably play, maybe in place of Evans although won’t provide the same level of pressure. 
I dont know if Evans had a negating role last week but he seemed ineffective. Has been like that for a few weeks and he'd be the one I'd drop for Young. Problem with Young is that he's been held over for a few weeks and hasn't played at any level.
9
Blah-Blah Bar / Re: General Discussions
Last post by ElwoodBlues1 -
Quote from: northernblue – on
Quote from: ElwoodBlues1 – on

Gentleman Jim and Albo will want a piece of that inheritance money. They want to pillage Discretionary trusts and bring in a death tax by default. A lot of small business people who use DTs for distributing income  as well as will money when appropriate will get hit and switching to a fixed trust is going to cost you tax and stamp duty in some cases. Albo tried to explain it but doesn't have a clue and most of the real wealthy won't be affected...

Your last 1/2 sentence is the only correct bit of all that, the rest is hysteria.
They are taxing Discretionary trusts.....thats the facts.
Expected return is 4.5 Billion over 5 years...
10
Blah-Blah Bar / Re: General Discussions
Last post by northernblue -
Quote from: ElwoodBlues1 – on
Quote from: dodge – on
LP - the only way for my kids will be through inheritances that we will get in the next 10 years or so. I think the boat has sailed for those that aren't in such a fortunate position. I don't understand how people can repay $3k a fortnight ($1m loan) or $2.4k ($0.8m loan)
Gentleman Jim and Albo will want a piece of that inheritance money. They want to pillage Discretionary trusts and bring in a death tax by default. A lot of small business people who use DTs for distributing income  as well as will money when appropriate will get hit and switching to a fixed trust is going to cost you tax and stamp duty in some cases. Albo tried to explain it but doesn't have a clue and most of the real wealthy won't be affected...

Your last 1/2 sentence is the only correct bit of all that, the rest is hysteria.