ARTHUR FRIEND Profile picture
15 Sep
Porter has totally misappropriated the words “Blind Trust”. What he is claiming has nothing to do with blind trusts. He is totally stupid or totally devious or totally arrogant. Probably all three! #auspol. 1/7
For tweeps unfamiliar with blind trusts (BTs). Pollie owns shares. Sets up BT. Manager of BT (the trustee) sells/buys shares but pollie has no involvement or knowledge of this. Trust laws apply. Periodically trustee sends income from shares to pollie who declares it #auspol 2/7
The BT share tradings are blind to the OWNER of the shares. The pollie OWNER of the shares in the BT ie the beneficiary, knows exactly where the periodic income he RECEIVES from the trust comes from. He declares it on the members register “income from my BT”. #auspol. 3/7
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