MY daughter has inherited some money in trust. How do I open and name a bank account for her so that her account pays its own tax and I as trustee/ guardian don’t end up with her tax bill?
208 views
208 views2 replies
2 replies
208 views
2 replies
All replies
Generally, you are able to give a TFN for the bank account. I'm assuming it's a savings account for interest, you put down your daughter's TFN so when the financial year is over, the bank reports the interest into your daughter's tax return.
The tax implications you should see a tax agent.
Thank you for your help. Much appreciated
Featured articles
15 Apr 2026 · 8 min read time
6 Feb 2026 · 4 min read time
24 Aug 2025 · 3 min read time