Harmoney

[BJ1]

Thanks. One of those age old question, tax efficiency or maximising trust assets. Nice advice and given me a lot to think about. Might consider a ltd liability company with dividends through to my partner.

Company dividends usually go to shareholders pro rata. In your circumstances anything else will attract the attention of IRD as a tax arrangement and you'll be in strife. I suggest you see a tax specialist, but in my experience there is no simple fix.

[myles]

there is no simple fix.

Create a Harmoney account in your partners name... Lower tax rate means higher investment return, which results in a higher compounding effect etc. Assuming that's an option?

[CageyB]

Create a Harmoney account in your partners name... Lower tax rate means higher investment return, which results in a higher compounding effect etc. Assuming that's an option?

I've considered this in the past, but are there any other IRD considerations? Say we had a bank account where we are both joint holders. Could my partner open a Harmoney account in their name, with deposits paid from that joint account, and be considered a separate entity in regards to tax bracket?

[777]

I've considered this in the past, but are there any other IRD considerations? Say we had a bank account where we are both joint holders. Could my partner open a Harmoney account in their name, with deposits paid from that joint account, and be considered a separate entity in regards to tax bracket?

Well if you can't then I am in the old proverbial. My current account is a joint account as all our utilities etc. get direct debited from it. Joint simply to cover my demise at some point then everything carries on without any restrictions. So I operate it as my account and all investing done in my name is taxed at my rate except for any income received from the bank which is shared. ie savings account and term deposits from time to time.