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Date Posted: Monday, November 22, 07:54:12am
Author: Angus Sherlock
Subject: Re: Distribution from family trust
In reply to: William 's message, "Distribution from family trust" on Friday, November 19, 01:31:48pm

William,

If you distribute to your Grandson then he will be taxed as a minor and therefore he (your Grandson) will have to complete a tax return and will be subject to a 47% tax rate. So if you distributed $15,000 to him, then he would have to pay $7,050.

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