How to invest for a minor as a Christmas Gift #investing

If you’re a parent or grandparent who wants to give a meaningful Christmas gift without adding more clutter to the house, consider setting up a share trading account for your child.

A minor account is simply an account held in your name as trustee for the child. It’s an informal trust, which means no formal trust deed is needed, but you do need to be related to the child to set it up. Once it’s in place, you can open a bank account in the same name and apply for a tax file number for the minor. This ensures any income from those shares or ETFs is taxed to the child, not to you, which is especially important if you’re a high-income earner.

From there, you can add to it every Christmas or birthday and let the investments grow until they’re old enough to take responsibility for it. In the long run, that account could become a first car, a home deposit or a powerful early lesson in financial literacy.

It’s a gift that grows with them, and getting the setup right from the start is key. Speak with your accountant or adviser if you’re unsure.

#finance #investing #australianfinance #wealthplanning #financialadvice

----------------------------------------------------------------

More Freebies you should check out

Ebooks, Online Courses, Video Blogs, Podcasts | Free resources covering a range of financial fundamentals to build your knowledge*

https://www.consortiumpw.com.au/elearning/

*Follow us on our social media *

Website: https://www.consortiumpw.com.au/
Instagram: https://www.instagram.com/consortiumprivatewealth/
Facebook Page: https://www.facebook.com/consortiumpw
TikTok: https://www.tiktok.com/@rob_goudie

To contact us directly please email info@consortiumpw.com.au or call 03 5382 3460. We're here to help!

Advice Disclaimer || Any advice given by the presenter/s has been prepared without considering your individual objectives, financial situation or needs. So, before you act on the advice you should think about whether the advice suits your objectives, financial situation or needs. If the advice relates to acquiring a financial product you should obtain a copy of the Product Disclosure Statement for that product and consider it before making a decision. This presentation has been prepared by Consortium Private Wealth Pty Ltd (ABN 74 616 250 965) (AFSL 495401). If you require advice which takes into account your objectives, financial situation and needs you should speak to a financial adviser.

Robert Goudie (ASIC Reg 235974), Ashley Rowan (ASIC Reg 433899), Olivia Glare (ASIC Reg 1262290), Rachael Todman (ASIC Reg 1270413) & Amy Lehmann (ASIC Reg 1292710) are Authorised Representatives of Consortium Private Wealth Pty Ltd ABN 74 616 250 965 AFS Licence 495401.