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Hi @sammy101,
We wouldn't be able to provide you with financial advice as that's not our position here at the ATO, we'd have to recommend you seek guidance through a Financial Advisor.
What I can recommend, is to have a read of our family trust information to help you get a better understanding of reporting obligations and tax concessions that may apply to a family trust. Bear in mind also, lottery winnings in Australia are tax free.
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Hi @sammy101,
We wouldn't be able to provide you with financial advice as that's not our position here at the ATO, we'd have to recommend you seek guidance through a Financial Advisor.
What I can recommend, is to have a read of our family trust information to help you get a better understanding of reporting obligations and tax concessions that may apply to a family trust. Bear in mind also, lottery winnings in Australia are tax free.
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