A question concerning those aged 16 and 17 years old

[MotCO]

I would imagine that would open up various tax loopholes for wealthy families involving older family members giving teenagers assets or profit-earning investments to get out of paying tax themselves.

I did think of that myself, but it would only affect people aged 16 or 17, and is it worthwhile to change share ownership of whatever for a couple of years? Plus, some kids may like the power and refuse to hand it back!