At Tax Stuff, we help individuals, families, and business owners across the Central Coast set up and manage trusts with ease and confidence. A trust is a legal arrangement where a person or entity (the trustee) holds and manages assets for the benefit of others (the beneficiaries). Trusts are not legal entities but are treated as taxpayer entities for tax purposes. People may want to establish a trust for various reasons, including:
Trusts offer flexibility in managing and distributing assets, which can be tailored to meet specific needs and circumstances.
Trusts can protect assets from creditors and legal claims.
Trusts can provide various tax advantages, for example by distributing income to beneficiaries in lower tax brackets.
Trusts can ensure that assets are managed and distributed according to the settlor's wishes after their death.
Opening a trust involves more than just filling out a few forms, it requires the right structure, legal documentation, and a deep understanding of your goals. At Tax Stuff, we guide clients through every step of the trust setup process, from choosing the right type of trust to preparing the trust deed and applying for a Tax File Number (TFN) and Australian Business Number (ABN). We work closely with legal professionals where needed and ensure your trust is compliant, tax-effective, and tailored to your specific needs.
At Tax Stuff, we help businesses structure smarter. Many companies choose to operate through a trust for benefits like asset protection, income distribution flexibility, and potential tax advantages. A trust structure can separate ownership from control, protect business assets from liability, and allow income to be distributed strategically to beneficiaries. If you’re considering whether a trust is right for your business, our expert team can provide tailored advice and set up your structure correctly from day one.
Unit trusts are used in commercial arrangements, where units are bought and sold like shares. They are often used in managed investment schemes. Our Central Coast accountants can manage all the paperwork and ensure compliance with Australian laws.
Managed Investment Trusts (MITs) have specific tax rules and benefits designed to reduce complexity for investors. Our team of accountants in Gosford has experience setting up and managing multiple types of trusts.
Set up to provide for the future care and accommodation needs of a person with a severe disability; these trusts are taxed at individual marginal rates. Again, there are many compliance requirements for this type of trust, but our Central Coast accountants can help you navigate the complexities.
Treated as trusts for tax purposes, executors or administrators manage these to distribute the deceased's assets. It is important that our team of accountants collaborate with your will writer/ lawyer to ensure a smooth execution process.
Structured as trusts, super funds provide retirement benefits to members and are subject to specific tax rules. Our Central Coast accountants have expertise with SMSF and we have an entire service page dedicated to it, please [Click Here].
Established to qualify for charity tax concessions, these trusts must meet specific requirements to maintain tax-exempt status. There are many compliance requirements for this type of trust, and our team of accountants in Gosford advises seeking professional advice for all types of trusts.
A family group controls these trusts and can benefit from concessional tax treatment. However, if distributions are made outside the family group, they are subject to family trust distribution tax (FTDT). We can suggest the structure of trusts and distributions to manage tax obligations in the most effective way.
A Discretionary Trust is a flexible trust structure where the trustee has full discretion over how income and assets are distributed to beneficiaries. Often used by families and small businesses, this structure offers potential tax advantages, asset protection, and estate planning benefits. At Tax Stuff, we help clients set up and manage discretionary trusts tailored to their financial and business goals.
Would you like to book an appointment with one of our skilled accountants? Do you have a question, or would you simply like to make an enquiry? Please fill out our contact form, and a member of our friendly team will get back to you within 24 hours.
Setting up a trust fund involves choosing the right trust structure, preparing a legally binding trust deed, appointing a trustee, and identifying beneficiaries. At Tax Stuff, we guide you through every step and work closely with legal professionals to ensure your trust is set up correctly and complies with Australian tax and legal requirements.
A trust fund is a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries. The trustee is legally obligated to follow the rules set out in the trust deed. At Tax Stuff, we help you understand the mechanics of trust distributions, taxation, and compliance to ensure everything is handled efficiently.
A living trust fund is established while the person (the settlor) is still alive, allowing them to manage or benefit from the trust during their lifetime. It’s often used for estate planning or asset protection. Our team at Tax Stuff can help assess whether a living trust is suitable for your personal or business needs.
Creating a trust fund requires drafting a trust deed, appointing a trustee, and formally settling the trust with an initial contribution. Depending on the type of trust, additional steps may include applying for an ABN or TFN. At Tax Stuff, we help you make a trust fund the right way, structured to your goals and fully compliant.
To open a trust fund in Australia, you’ll need to establish the trust deed, appoint trustees, and register the trust with the ATO. This includes obtaining a Tax File Number (TFN) and potentially an Australian Business Number (ABN). Tax Stuff’s experienced team can handle the process from start to finish, ensuring everything is set up correctly.
A revocable trust fund is a type of trust that can be altered or cancelled by the settlor during their lifetime. While not commonly used in Australia compared to fixed or discretionary trusts, the concept may be relevant in international estate planning. Talk to the team at Tax Stuff to explore the right trust type for your situation.
Our expert team is here to provide reliable, tailored solutions that save you time and money.
02 4319 4910
info@taxstuff.com.au
Suite 8/1-5 Baker St, Gosford NSW 2250
Monday - Friday, 9:00 AM - 5:00 PM
