Posted November 20, 2019 05:16:08 If you live in New South Wales you can be a member of the CRM Trust, which is the most highly paid of the trusts in the state.
They are paid $4.7 million each year to administer the state’s estate tax and pay $1.7 billion to support the state economy.
The trusts chief executive, Peter Crummey, said the tax bill was a “slight” amount, but “not enough” to put a dent in the trust’s finances.
“I think it’s a fair statement that we are in the top five most highly compensated companies in the country and I think we are well compensated in terms of the tax we pay,” Mr Crummesaid.
He said the trusts top four employees, which include his son David and two of his daughters, are the same age as Mr Crammeys wife, who is 76.
David Crummie said the arrangement with the trust had been going on for more than 20 years.
”We have a long history, so you can imagine how much work we do to ensure our families are able to pay the tax,” he said.
Mr Crummies wife, a schoolteacher, said she had been in touch with the Trust about the tax deal, but had been told it would be a matter for the Trust to decide.
But, Ms Crummine said, the deal with the state was not about her husband.
“[They] have been working together for 20 years and I don’t think it has come up in any of the discussions we have had with them,” she said.