FAMILY TRUST FORMATION

Family Trust Formation

The primary benefit is but is not limited to is the optimum manner in which the trust is taxed. The profits are distributed to its beneficiaries in a flexible manner and they get taxed according to individual tax rates and hence generally there is zero tax payable for the trust. We are a Registered ASIC Agent and Registered Tax Agent.

Detailed information

Family trusts are a common business structure in Australia for conducting business or investing due to their tax advantages, leading many investors to prefer them over sole proprietorships and corporations.

The primary benefit of a family trust is that the trust itself does not pay taxes. Instead, the business or investment income can be distributed in any proportion to family members who then pay tax on their individual income at their personal tax rates.

In Australia, the first $18,200 of income per adult per year is tax-free. If there are enough family members with no other income, the effective tax rate on the trust can be reduced to zero.

Due to the complexity of trusts compared to other business structures, we recommend contacting us to understand the benefits and drawbacks of setting up a trust.

Our pricing is fixed and transparent, with no hidden fees.

Documents Received Upon Trust Establishment:

• Trust’s Tax File Number (TFN)
• ABN, GST, and PAYG
• Legally drafted trust deed and other relevant legal documents (electronic version)

Pricing Including Stamp Duty by State:

• New South Wales: $1,838
• Victoria: $1,188
• Tasmania: $938
• Northern Territory: $908
• Other States: $888

An additional charge of $198 applies for a printed and bound version.

Documents Required:

1. Proposed trust name ending with Family Trust or Trust
2. Business Address and Postal Address
3. Trustee: Name, Driver’s license or passport, Australian address, and tax number.
   If the trustee is an Australian company, provide the company name, tax file number, and directors’ names, date of birth, and address]
4. Beneficiaries:  Names, Date of Birth, Gender, and address; [can be the same as the trustee].
5. Appointor: Name, Date of Birth, Gender, and Address.
6. Nature and direction of the trust’s business activities in Australia.

Documents ready?

Please send the required documents to admin@accountants.com.au and we will process your request within three business day.