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Forming a Trust is one of the business structures commonly used by businesses. We can help you to establish Trust for your business and to draft a trust deed. We further extend our services to Tax Planning, preparing Business Activity Statements, Financial Statements and Income Tax Returns.
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Discretionary trust is the most common form of trust. It is used for tax and asset protection planning. |
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A “deed” of discretionary trust is formally established by a settlor. The settlor is usually not a member of the family, but an unrelated person who “settles” a small sum to create the trust. Money, assets or even whole businesses are generally transferred into a trust by sale or gift. |
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The discretionary trust allows the parent or benefactor to retain control over distribution of both trust income and trust assets (through holding the position of trustee or controlling a company trustee). The assets do not normally constitute personal assets for bankruptcy purposes. |
Discretionary powers give the trustee flexibility to vary income and capital distributions each year to minimize overall family tax, without incurring stamp duty or CGT – very useful where income of individual family members fluctuates from year to year.
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Are you running a small company or running a family business, partnership?
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Whether you want to know more about how to go for it?
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Contact our office to discuss further for most efficient income distribution and tax planning structure.
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