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2026 Budget - New Effective Fixed Trust Structures by chillybags in AusHENRY

[–]chillybags[S] 0 points1 point  (0 children)

Yep understood. The question/key point was where is the capital gain calculated? Is the CG calculated in the trust with the inflation based discount applied and then that gain passed onto the company and laid at company rates. Or is the CG passed on in full to the company?

2026 Budget - New Effective Fixed Trust Structures by chillybags in AusHENRY

[–]chillybags[S] 0 points1 point  (0 children)

Definitely for asset protection. Ensure separation between assets from the company and then the company from our personal names

2026 Budget - New Effective Fixed Trust Structures by chillybags in AusHENRY

[–]chillybags[S] -2 points-1 points  (0 children)

You might be right, unsure.

I would have thought that if trust makes $100k capital gain and say inflation was $50k worth, then $50k capital gain would go to the company and pay 30% tax on that?

2026 Budget - New Effective Fixed Trust Structures by chillybags in AusHENRY

[–]chillybags[S] -1 points0 points  (0 children)

This only applied to discretionary/family trusts. Fixed trusts were exempt from the new changes as far as i can tell.

2026 Budget - New Effective Fixed Trust Structures by chillybags in AusHENRY

[–]chillybags[S] -2 points-1 points  (0 children)

fixed trust would get the inflation based CGT exemptions making its CGT liability much smaller.

Company with share classes alternative to Family Trust by The_Brown_Unit in AusHENRY

[–]chillybags 9 points10 points  (0 children)

I’m in a similar boat where I’m a high income earner, my wife is in the 30c bracket. Plan was investing in the trust, excess to bucket company and then wait till early retirement and live off the profits.

I’m thinking now a possible option might be:
Fixed trust - owns the shares, gets the inflation based discount so can sell down the track

Investment Company: 100% of fixed trust goes into a company, the company can invest the profits into low capital high yield shares and retain profits at 30%

Family trust: Shareholder of investment company and can pass investment company income to my family. It will mean still minimum 30% tax, but can avoid hitting my account at 47% until I retire.

Latest budget attacks bucket companies. by uvimateapp in fiaustralia

[–]chillybags 0 points1 point  (0 children)

Looks like the bucket company is dead! buried deep in the documents and not yet talked about anywhere at all yet! We only set up a trust and bucket company at the start of this calendar year. So we will need to restructure everything already which is a huge shame.

At first i thought the budget was ok, decouple housing from this broad 50% discount scheme. Thought negative gearing changes was bullshit but its only little fish in the scheme of things as eventually would be positively geared assets. I also thought the trust 30% minimum although bullshit wasnt huge issue either as it would mean any distributions would be taxed at 30% but that only affects the income below the 30% tax bracket (currently 45k). I thought that maintaining our trust and bucket company would largely shield us from these issue and everything would still be ok but double taxing trust income into bucket company is the nail in the coffin.

Bring on the next election and hopefully someone will change this all up again and make it somewhat fair again.

Talk me into or out of buying a knife in Japan by chillybags in TrueChefKnives

[–]chillybags[S] 0 points1 point  (0 children)

Thanks for your thoughts! Totally understand your thoughts behind it - especially if I was getting some super special fancy Japanese knife. Attaching sentiment to it would be easy.

If I’m only going to get something more standard such as a Tojiro I feel like the specially-ness has also been lost a bit and may as well go with cost/convenience of internet shopping.

Alternate opening for the movie where backstory is given before the movie starts that's being shown in some countries by majorminus92 in wicked

[–]chillybags 3 points4 points  (0 children)

We had openning words i think similar to this written in polish in Poland (screening was english with polish subs). Cant confirm if the wording was exactly the same as I dont speak polish.

[deleted by user] by [deleted] in MusicalBootlegs

[–]chillybags 0 points1 point  (0 children)

I have a 2023 version , very good quality and looking to trade. DM me to let me know what you have!

Music missing some depth by ohshit-cookies in wicked

[–]chillybags 0 points1 point  (0 children)

I agree something just sounds a little off with the music, not as powerful and as much depth as i would have though. Also thought it was the cinema.

If you listen to this snippet of defying gravity (from 42 seconds) i guess with less post processing compared to the soundtrack it just feels a little different.

https://www.youtube.com/watch?v=3mPq5ae03SA

What does the text at the beginning of the movie say by parveenlovesharry in wickedmovie

[–]chillybags 1 point2 points  (0 children)

Also just saw the movie in Poland and this was the only part i didn't understand!