A trust is basically a structure which allows a person or company to hold an asset for the benefit of others. A trust can be the most tax effective business or investment and asset protection structure if you use it properly.
We can help set up the relative trust structure tailored to your specific needs and advise you how to use it in most efficient and effective way.
Some benefits of trust:
- Assets held in a family trust cannot be attacked by creditors or lawsuits, so they are ideal for protecting assets
- Trust provides flexibility in the distribution of income and capital gains among beneficiaries
- It facilitates the transfer of assets from generation-to-generation tax free.
- Beneficiaries of a trust are generally not liable for the trust debts, unlike sole traders or partnerships.
At TSK Accountants, we specialize in accounting and taxation services for the following trust structures:
1. Family trust
2. Discretionary trust
3. Unit trust
4. Hybrid trust
5. Testamentary trust
Everyone in Australia should have a type of trust and we strongly recommend talking to us to find out why?
Please feel free to contact us if you have any questions. With a local presence, we’re proud to provide our services to businesses in Hoppers Crossing and surrounding suburbs such as Tarneit, Truganina, Williams Landing, Point Cook, Werribee, Wyndham Vale, and Manor Lakes. We can also assist clients across greater Melbourne with all their accounting needs.