Discretionary Trust

Discretionary Trust

A Discretionary Trust provides families with a means to distribute profits to family members (beneficiaries). Profits are created from assets such as property, shares etc. that are held in trust for the beneficiaries.

A Trust also requires a second entity known as the Trustee to manage the trust on behalf of the beneficiaries.  The Trustee may be a person or a corporate body (Pty Ltd)

Discretionary Trust have a number of benefits around minimising income tax and asset protection. However, in recent years the tax benefits to children has greatly reduced when considering the cost to establish, manage and ATO reporting.

Discretionary Trust can provide good asset protection for sole traders and companies whereby leasing and hire agreements are established to separate from the trading entity.

Service

Includes the setup, registration, deed of the Discretionary Trust and binder.  

Does not include the setup of separate trustee, ABN and business name registration. See other services for details and pricing

You need to provide:

• • Name for the Trust.

  • The Settlor Names, Address, Place of birth, Date of birth, Tax file number or if a Company,  Name, A.C.N. and Address.  Must be a person or company with no other involvement in the Trust.  If you do not have a Settlor, the AHBC will become the Settlor with a $10 Settlement Sum paid into the Trust bank account.

  • Trustee Names and Address, Place of birth, Date of birth, Tax file number or if a Company, Name, A.C.N. and Address.

  • Appointer - The Appointer role is to removes and appoints the Trustee, but cannot be the Settlor.  Require Names, Address, Place of birth, Date of birth, Tax file number or if a Company, Name, A.C.N. and Address.  

  • Beneficiaries - Full name(s) of the person(s) (eg husband and wife) who are to be named as eligible beneficiaries under the Trust including Place of birth, Date of birth, Tax file number.

  • Note that we may require further details during the application process.

  • Confirm that no trustee are discharged director or office holder or have been a declared bankruptcy.

Rates:

• • Non Member - $795 

  • Member - $995

Included Settlement Sum of $10