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Accumulating wealth for your children or grandchildren

In Brief: Accumulating wealth for your children or grandchildren

Thursday, 30 July 2015

Future plans for a child?s financial benefit can not only include a savings account, but an investment account as well. While a child cannot hold shares in their own name investors can open an account for them that stated on the application form that shares are held on behalf of a child. The following article looks into this topic, on how this can be set up and what the tax implications are if you were considering this investment option.

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Please be aware these articles are for general information purposes only and correct at time of printing. We will not accept responsibility for any errors made or actions taken by any readers that have acted on the information contained. Answers given are for guidance only and specific advice should be taken before acting on any of the suggestions made. All information is based on our understanding of current tax practices, which are subject to change. Always remember when investing, past performance is not necessarily a guide to future performance and the value of some investment units can fall as well as rise.