I know this isn't the right space for this post, but hoping someone can help out.
I just read the Barefoot Investor's last post. It was talking about putting money aside for your kids. It said
"I?d suggest you open up an investment bond in your daughter?s name, which you can do without a tax file number. You can choose your investment option within the bond (choose Aussie shares with low fees), and you can continue your monthly savings plan, even easier, you can automate it. After 10 years the bond is capital gains tax free."
I currently put money for my son into a kids savings account. How do I set up/get one of these investment bonds? I don't know where to start.
I just read the Barefoot Investor's last post. It was talking about putting money aside for your kids. It said
"I?d suggest you open up an investment bond in your daughter?s name, which you can do without a tax file number. You can choose your investment option within the bond (choose Aussie shares with low fees), and you can continue your monthly savings plan, even easier, you can automate it. After 10 years the bond is capital gains tax free."
I currently put money for my son into a kids savings account. How do I set up/get one of these investment bonds? I don't know where to start.