Good. Go after trusts.
At a former workplace of mine, I overheard the directors discussing how their family trusts worked to minimise tax. These guys were on around a million dollar a year. (Publicly listed company)
I remember one saying, don’t worry, the government will never change the laws on trusts as they all use them too.
Never thought this labor govt would grow a spine, but it appears that’s slowly happening.
Yeah, my ex boss was the same. He used one because it reduced tax
Trusts are 100% tax dodging
the old unearned income tax.
I’m fine with taxing inherited wealth. Why should my landlord’s kids be my kid’s landlords by default?
Even for the poor, anyone with superannuation may be caught paying a tax when it passes on to your beneficiaries.
Basically, your super may be split into a taxable and non-taxable part. And you have to pay 15% on the taxable part when it is withdrawn. So, when you die, that 15% of the taxable part has to be paid.
There are ways to avoid this. Best to speak to a financial adviser, as it depends on age, financial position etc.
This is not financial advice. I am not a financial adviser.
