Ok….so I have read ’till my eyes are sore and my head is thumping and I still can’t get a handle on which is the best structure to set up to both protect my assets and minimise tax.
Has anyone got a simple answer?
What are the benefits of operating as a company?
What are the benefits of operating as a trust?
Why choose one over the other?I’d be grateful if you could point me in the right direction.
Cheers,
Sarah[confused2]A discretionary trust allows:
– tax minimisation
– avoidance of CGT and stamp duty on death
– asset protection
– more privacy than a companyA company allows
– limited liabilityI suggest if you are looking at a business then a company is worth considering – with the shares owned by a trust.
Anything else, probably a trust is better.
Terryw
Discover Home Loans
Parramatta
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I think even a business should be in a trust. You can register a trading name for the trust and this will give you great flexibility.
There is no “One size fits all” for trust structures as everyone’s personal circumstances are different.
Generally I would agree with Terry.
Let me know if I can help.CATA
Asset Protection Specialist
[email protected]Thanks Terry and Catta
I’m just in the process of working out what my property focus is going to be and what I want to achieve. Once I decide whether I am going to focus on property as a business or hobby, I will look into discretionary trusts and company structures more.
Thanks for your comments, I’ll take them on board.
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