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thanks Grey Ghost, that is a bit clearer but you're right I will have to talk to my accountant and see whether it is the right thing to do for my situation. She knows exactly how much I earn and all the tax I pay so it makes sense.

cheers guys. I'll hit my accountant up at tax time and kill two birds with one stone. I'll tell her my End State and she can work back from there in minimizing my future tax burden. thanks again.

Ok Hooray, thanks for your help mate.

hey guys, I have been looking online to get an answer and I can't seem to get the right info. So here goes. If I was to set up a Trust (not even sure what type of trust would work) and give say $100k to it, does the trust have to pay tax on receiving the $100k? My understanding is that...