Tax Planning Strategy 180 | Superannuation Proceeds Trust
Tax planning strategy 180
The superannuation proceeds trust strategy involves creating a special type of testamentary trust under a will that is only funded by the deceased’s superannuation death benefits. The beneficiaries are limited to only the deceased’s tax dependents (i.e. spouse and children under 18).
The advantage of this strategy is that as all the superannuation death benefits will be going to tax dependents of the deceased they will be tax-free.
Specialist legal advice is required to draft the will that will establish the superannuation proceeds trust.
Similar posts you may like
- Anguilla
Capital city: The Valley Currency: East Caribbean dollar Read more
- Double Tax Treaty Manipulation
Double taxation is the levying of tax by two or more jurisdictions on the same declared income, asset or financial transaction. It may occur Read more
- Liberia
Capital city: Monrovia Currency: Liberian dollara (LRD) Read more
- Domicile Hedge Funds
Eighty percent of the world’s hedge funds worth US$800 billion are domiciled in the Cayman Islands. Hedge funds have been attracted to the Cayman Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2