A trust can be an effective vehicle for minimising tax. A trust can distribute income amongst multiple beneficiaries, thereby enabling income to be split in a tax effective manner. A trust is not a separate legal entity. However the trustee of a trust is required to lodge a tax return for the trust showing its net income and how the income is distributed to beneficiaries.
There are multiple trust structures available, including discretionary trusts, family trusts, fixed trusts and unit trusts.
- Setting up different trust structures.
- Apply for TFN, ABN, GST & PAYG registrations
- Preparation & lodgement of trust tax returns
- Preparation of financial statements
- Assistance with making tax effective trust distributions and drafting distribution minutes
- Attend to monthly, quarterly and annual compliance requirements
- Preparation & lodgement of monthly, quarterly and annual activity statements.