How to put something aside for the kids

Out of the hat ... it’s time to be a little tricky if you want to surprise the kids when they’re older. Photo: Max Mason-Hubers

KEY POINTS

  • Children’s unearned income above $416 and up to $1308 in a year will be taxed at 66pc
  • If the grandparents are over 60, you could hand over children’s savings to be put into their super accounts and left there to accumulate at 15pc tax on earnings
  • Income earned by minors that can still make use of the low-income tax offset includes income from deceased estates and testamentary trusts.

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Debra Cleveland Smart Investor

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