If you are looking to set up a family trust arrangement to run your business, buy a property or for any other reason, then there can be several facts that you may be unaware of. Forming a trust can be complex as compared to other straightforward business structures like companies or partnerships. Overseeing the complexity of forming and managing a trust, it is worthwhile to note that there are numerous benefits of trading under a trust structure.
The primary benefit is but is not limited to is the optimum manner in which the trust is taxed. The profits are distributed to its beneficiaries in a flexible manner and they get taxed according to individual tax rates and hence generally there is zero tax payable for the trust. Family members can be a part of the family trust by availing the title of Beneficiary or trustees. The transfer of profits to beneficiaries is flexible in nature.
Fee: $916 include government charge and GST for Victoria
You will receive the following documents from us once trust formation is completed:
- Tax File Number
- ABN，GST and PAYG
- Trust Deed (both electronic version and the folder)
Proposed trust name ending with Family Trust or Trust
Business Address and Postal Address
Trustee Name, date of birth, tax file number and address. (If the trustee is a company, please provide the certificate of registration and tax file number)
Beneficiary name and address (at least two)
A brief description of the proposed business
Please click the Online Appointments on the top right of the page or send the documents to email@example.com.