Platinum launches investment bond | Financial standard
Platinum Asset Management has launched an investment bond with Australian Unity.
It offers two options: Platinum’s International Fund or Asia Fund, according to the March 19 product disclosure statement.
Lifeplan Australian Friendly Society will act as the issuer of the investment bond structure.
The minimum investment size is set at $ 1,000.
The management fee is set at 1.35% per annum, of which 30 basis points are the administration fee and 1.05% the investment management fee.
Investment bonds are tax-free structures, in which the bond issuer pays the 30% corporate tax rate to the ATO, thus freeing the holder from the obligation to include it in their return. annual tax.
Withdrawals after 10 years do not result in additional income tax subject to other conditions.
They also do not incur capital gains tax when the ownership of the bond is changed; issuers often present them as faster and more efficient estate planning structures than wills.
Platinum competitor Magellan Asset Management also recently signed on for inclusion in the structure of investment bonds, through Generation Life’s tax optimization series.