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More complex structures involve practice trusts distributing business income to investment companies owned by discretionary trusts, so that 70 cents in the dollar is available for investing, on an after-tax basis, not just 55 cents.
plus you get the probability of a refund of part of the 30 cents tax down the track on declaration of a fully franked dividend. This structure can see long-term effective rates of tax well below 15%, which means higher after-tax returns, faster compounding and bigger capital gains. |
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