I created a portfolio for my recently born son. It’s via Selfwealth’s option to create minor accounts (Introducing SelfWealth Kids Share Trading Accounts | SelfWealth). 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 (Children's share investments | Australian Taxation Office)
Does anyone have any experience with this? Maybe someone who has done this for a while?