Hi,
Very new to this forum. My son and I wish to invest in property and small business. My son and I are purchasing our first small internet business and from what I can glean from these posts is that it would be best if we kept our business dealings separate from our property investing, ie. We want to setup a Pty Ltd company along with a discretionary family trust. Which one do we set up first? My husband, son and I will be beneficiaries of the trust and my son and I will be directors of the company. Can we incorporate our business into the company/trust or should we keep the business separate as sole traders? I was told it was important to set up the company first before setting up the trust. Is this correct?
Thank you in advance.