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Hi, I’m new in the forum.
My father wants to transfer me some shares that are in the Family Trust. I’m a beneficiary, My dad is the trustee. What’s the smartest way to do this move in regards to tax implications? I’m happy to receive it in the form of shares not money if that makes it better. We are aware there will be capital gains for the trust to pay since the shares went up in value, but we wonder whether I’d have to declare the asset as Income therefore affecting my personal tax..? I don’t know, I’m only starting to try to understand the system but I find it very complex!
Thanks for any help!
Pip