All Topics / Help Needed! / Family trust, need tfn and abn ?

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  • Profile photo of mxdmxd
    Member
    @mxd
    Join Date: 2009
    Post Count: 45
    September 21, 2009 - 10:29 am

    Hi All,

    I assume a family trust needs a TFN do I need a ABN as well, the trust will be used as an investment vehicle, not a business.

    If I don't need an ABN (I don't think I do) is there any reason to get one or not to get one ?

    cheers
    Matt

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 22, 2009 - 1:45 am

    yes, a trust needs an ABN as well as a separate TFN. not exactly sure why, but the ABN needs to be listed on tax return etc.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of mxdmxd
    Member
    @mxd
    Join Date: 2009
    Post Count: 45
    September 22, 2009 - 1:47 am

    thanks for that.

    cheers
    Matt

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