I created a portfolio for my recently born son. It’s via Selfwealth’s option to create minor accounts (https://www.selfwealth.com.au/introducing-selfwealth-kids-share-trading-accounts/). It created my son’s portfolio with my partner as the informal trustee and shares in my son’s name are quoted like so:
“Partner name” <“Child’s name”>
I am now pretty sure I can quote my partner’s TFN for the purpose of receiving dividends and report those in my partner’s tax lodging next year.
However, the examples on ATO’s website confused me a little (https://www.ato.gov.au/Individuals/Investments-and-assets/In-detail/Children-and-under-18s/Children-s-share-investments/)
Does anyone have any experience with this? Maybe someone who has done this for a while?