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- 27 April 2019
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Hi all,
Newbie here, hence why in the lounge. I am wanting to buy shares in an ETF for my daughter to get here into the market early and pique her interest in investment early (she's 10). I have a self wealth account and can create another under their rules. I am looking for a simple but acceptable way to provide evidence that the shares were bought for her and to avoid capital gains tax when I transfer them to her name when she becomes an adult.
I have read that you can open an account and put my child as account designation but self wealth don't allow this for single accounts only trust and business accounts. Is there some other way that I can note that the shares are for my child that the ATO will find acceptable?
Any experiences?
Cheers
Bruce
Newbie here, hence why in the lounge. I am wanting to buy shares in an ETF for my daughter to get here into the market early and pique her interest in investment early (she's 10). I have a self wealth account and can create another under their rules. I am looking for a simple but acceptable way to provide evidence that the shares were bought for her and to avoid capital gains tax when I transfer them to her name when she becomes an adult.
I have read that you can open an account and put my child as account designation but self wealth don't allow this for single accounts only trust and business accounts. Is there some other way that I can note that the shares are for my child that the ATO will find acceptable?
Any experiences?
Cheers
Bruce
