With all the recent commentary and focus on how the rich invest, the question I am often asked as a follow-on is which entity is best to use to build wealth?
The most common wealth accumulation vehicles or entities include superannuation, discretionary or family trusts and investment companies. The choice of vehicle is typically driven by taxation considerations, with each option providing a unique framework of how tax is paid.
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Ben Smythe is a partner and principal adviser of Minchin Moore Private Wealth.