Do you invest money for your young children?
What structure do you use and how have you found it?
Do you have a set amount that you contribute, a goal you're trying to reach, or just add some every now and then when you can?
Minor tax arrangements are a bit complicated due to the high tax rate for minors unearned income and there's some conflicting information around online about taxation of 'informal trusts' (e.g a parent holding a share trading account 'as trustee for' the child).
E.g. this article seems to advise that you can open a trustee account, declare the income under your own name and then transfer ownership to your child down the track without triggering a CGT event
https://guidedinvestor.com.au/2021/03/26/investing-for-children-in-australia/ Whereas this one seems to advise that either the minor is the beneficial owner for tax purposes (income declared on minor's tax return, no CGT at transfer) or the parent is the beneficial owner (income declared on parent's tax return, transfer of beneficial ownership would be a CGT event).
I'm not looking for professional tax advice, but curious how others have decided to set this up and how it's working out for them.