Shobi is a trust vehicle. The net income from the trust is $120,000 and is distributed as follows: 40% to the widower 20% to a daughter aged 49 and is working with an annual salary of $92,000 30% to a son who is an undischarged bankrupt 10% to a grandson aged 16 years old who runs a lemondade stall and makes a profit of $7,100 Explain the consequences of the above
Shobi is a trust vehicle. The net income from the trust is $120,000 and is distributed as follows: 40% to the widower 20% to a daughter aged 49 and is working with an annual salary of $92,000 30% to a son who is an undischarged bankrupt 10% to a grandson aged 16 years old who runs a lemondade stall and makes a profit of $7,100 Explain the consequences of the above
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 17CE
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Please show each step of calculation based of AUSTRALIA
Transcribed Image Text:Shobi is a trust vehicle. The net income from the trust
is $120,000 and is distributed as follows:
40% to the widower
20% to a daughter aged 49 and is working with an
annual salary of $92,000
30% to a son who is an undischarged bankrupt
10% to a grandson aged 16 years old who runs a
lemondade stall and makes a profit of $7,100
Explain the consequences of the above
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