Hi All,
I wish to sell shares purchased within a family trust and use the proceeds to pay down my PPOR. I would obviously like to minimise CGT!
For round numbers lets say that I have a portfolio worth $300k with $100k profit.
I have approx $100k Profit (CGT) to minimise and could distribute as follows:
1) If I do distribute these funds as above, can I still use the funds to pay off my PPOR or does it need to remain within the trust?
2) any issues with distributing to my nephew who is underage
many thanks
I wish to sell shares purchased within a family trust and use the proceeds to pay down my PPOR. I would obviously like to minimise CGT!
For round numbers lets say that I have a portfolio worth $300k with $100k profit.
I have approx $100k Profit (CGT) to minimise and could distribute as follows:
- Mother in law Centerlink: $18k
- Father retired: $18k
- Mum working part time: $18k
- Aunty on pension: $18k
- Nephew (age 2) : $18k
- Wife : remainder
1) If I do distribute these funds as above, can I still use the funds to pay off my PPOR or does it need to remain within the trust?
2) any issues with distributing to my nephew who is underage
many thanks