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BenjaminBayly(Initiate)Initiate
23 Apr 2021

Hello

Background: Some years ago I established share trading accounts for my children as sub-accounts of my own nabtrade account with me as trustee; it is an informal arrangement with no trust deed.

Each account is linked to each child's individual TFN and distributions are being declared in their individual tax returns.

My question: Providing the distributions continue to be managed in this way, is there any specific timeframe I must adhere to for transfer of the assets once the children reach adult age?

With thanks

Benjamin

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2,265 views
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RichATO(Community Support)Community Support
ATO Certified Response24 Apr 2021

Hi @BenjaminBayly

There is no prescribed time period to transfer the shares into your children's names once they turn 18. It's entirely at your discretion under this arrangement.

RichATO

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RichATO(Community Support)Community Support
ATO Certified Response24 Apr 2021

Hi @BenjaminBayly

There is no prescribed time period to transfer the shares into your children's names once they turn 18. It's entirely at your discretion under this arrangement.

RichATO

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Child's Share Trading Account Transfer | ATO Community