I am a registered tax agent, working in tax, and operating my own little firm on the side for a bit of extra coin, and I can confirm that generally, this is right. ddzx may have been out of tax for a bit, but the info is good.
On note 1, just for a little more info, you won't get tax free thresholds for minors receiving trust distributions on income they didn't earn - you'll get just $416 each tax free to distribute to them. Over 18s, they would get full tax-free threshold regardless.
Everything else ddzx has said, I agree with as general advice, not taking into account any specific person's situation.
I am a registered tax agent, working in tax, and operating my...
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