Explain how the zhou discretionary family trust with

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Reference no: EM133320655

Question: Explain how the Zhou discretionary family trust with the following particulars could distribute residual income to minimize tax at the end of the 2021 income year, given the following:

Taxable income of $60,000 at the end of the income year.
A choice of three beneficiaries, all of whom could be made presently entitled to a portion of the income and are a resident of Australia for tax purposes:
Fred who is 45 and has other taxable income of $28,000.
Samantha who is 20 and has no other income.
Beth who is 16 and has no other income.
When answering the question please:

Work out the most tax effective way of distributing the trust income, showing your workings. Complete tax calculations for each of the three individuals, including offsets and levies.

Reference no: EM133320655

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