RE:RE:RE:RE:Taxes & Family TrustIt is deemed a disposition when it is transferred to the trust is considered a sale of the assets and is therefore required to be reported and it was. I suspect that from now on there will be no more reporting obligations with respect to those shares
In terms of tax planning it makes sense to do this at a point when the shares are at the lowest possible price because capital gains is charged directly to Hammed (there is a %15 liability on half of the growth of the shares - presumably acquired for next to nothing) and that tax liability arises upon the formation of the trust so it is an example of Hammeds belief or at least his accountants that we have reached the bottom rather than a belief that there is more pain in store.