Hi all,
I am curious as to benefits from a trust, how do i set up a trust… this sounds very premature but if i dont ask i wont know…
Regards Josh.
Hi Josh,
I’m still looking into this myself. Probably best to talk to a good solicitor or accountant. (I’ve done both and am still checking it out.) There is a website where you can buy a discretionary trust for $275. I don’t what it’s like as I haven’t used the service but there is a bit of info on the site about trusts. The address is http://www.legalmart.com.au/topics/business/superannuation/trust_more_info.asp. I know there have been other discussions on this forum about the same topic.
Hope this helps,
David [
]Hi,
Here are some MUST read sites: (In no particular order)
http://www.strategicwealthmanagement.com.auhttp://www.chrisbatten.com.au (IE only)
They contain HEAP of the BEST info concerning trusts. (as well as other things.) But the best trusts aren’t cheap (about $1000).
If you have any other questions just post back.
Cheers,
Pin
Hi guys,
just thought id through you some help as i work in the accounting field.
Discretionary trusts are very benefical for high income earn’s as it allows greater flexibility on distributing income to other beneficiaries.for example,
profits earned in a year may be distributed to a family member if thier income is low allowing for a tax rate of 30% instead of 47%.this is a huge aid for minimise tax.A person is appointed trustee of the truat and therefore has total discretion over all that happens.
Its also good for asset protection because it forms a new entity.A few quick pointers…..
Cheers
]
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