Financial advice: crypto assets – how do they affect my pension?
If the amount was, say, $100,000, the reduced net return due to the tax would be relatively small over a short time frame. You could take comfort in knowing that the bequest would go to where you intended. You would avoid the death tax on super.
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I often get questions about investing for grandchildren. The reality is that gifts to minors attract the children’s tax, with the first $416 of income from the investment tax-free, but the rest taxed at the highest marginal rate.
However, if the money is placed into an investment bond with the grandchild as the nominated beneficiary, there’s no need to declare anything on anyone’s tax return each year. The bond can be transferred tax-free to the beneficiary, free of capital gains tax,…
