Income derived from a gift provided under a will is taxed in the hands of minors at:
A) minor tax rates on unearned income.
B) adult tax rates.
C) a flat tax rate equal to the highest marginal rate of tax.
D) a flat tax rate equal to the average rate of tax payable on other income.
Correct Answer:
Verified
Q13: The SIS Act allows for superannuation monies
Q14: In Australia, a will falls under:
A) state
Q15: A discretionary trust provides:
A) for the separation
Q16: The principal residence of the deceased is
Q17: A testamentary trust is a trust:
A) established
Q19: The trust settlor:
A) can only commence a
Q20: The superannuation fund trustee has discretion over
Q21: Outline how the 3-year rule may be
Q22: What are the general consequences where a
Q23: Outline how the use of a trust
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