Why make a Family Trust Election?
Автор: Tax Nuggets Academy
Загружено: 2021-12-08
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Why should you make a Family Trust Election?
If your discretionary trust invests in shares - derives franked dividends - and wants to pass on those franking credits to its beneficiaries, the trust will need an FTE!
FTEs are needed to ensure a discretionary trust can pass on franking credits to its beneficiaries. Under the franking credit regime, the holding period rule requires you to continuously hold shares ‘at risk’ for at least 45 days.
Beneficiaries of discretionary trusts can never satisfy this rule because they do not have any interest in the underlying assets of the trust, UNLESS an FTE is made. The FTE effectively allows the 45 day holding period rule to be satisfied.
Extract of live virtual replay: How to make a trust distribution on 6 Dec.
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