TRUST WITH CORPORATE TRUSTEE

CASE STUDY

CORPORATE TRUSTEE

Jack is married with no dependent children, and at age 60, Jack is made redundant from his job …..

Jack started a business

Jack applied for a number of positions but found his age working against him and decided to buy a tipper truck and become an owner driver.

Pty Ltd company or a Family Trust

Before purchasing a truck, Jack secured a contract with a local contracting transport company specialising in tipper trucks who only deal with sub-contractors operating through either a Pty Ltd company or a family trust

We supplied the new structure

After consultation Jack chose a family trust structure with a corporate trustee.

We supplied the new structure within 24 hours with all necessary ATO registrations and is now a self-employed owner driver operating through a family trust.

The Family Trust Structure

The family trust structure with corporate trustee met the requirements of the contracting transport company and met the personal tax needs for Jack and his family.

Business Partners Non Related Parties Case Study

by David Maynard | November 1, 2018 | Business Structures, Case Studies, Corporate, Trust, Trustee | 0 Comments

BUSINESS PARTNERS CASE STUDY THE PARTNERS ARE NON RELATED PARTIESJoe and Adam are plumbers who have both worked together on various construction sites....Long Term Friendship Joe and Adam have been building a great long term friendship over the years and decide to...

Tool Kit For Starting a Business

by David Maynard | April 7, 2021 | Starting a Business | 0 Comments

Companies Direct has developed a kit for starting a business that has helped thousands of people. It covers topics like: What steps are involved; What business structure to use, How to get started on the right foundations; and It will potentially save you from costly...

Loss Back Tax Offset For Companies – 2021

by David Maynard | March 4, 2021 | ATO, Australian Taxation Office, Corporate, Starting a Business, Tax Savings | 0 Comments

The new Loss Back provisions for companies commences with lodgment of 2021 tax return. The Loss Back provisions allows a company to offset a current year loss against a previous year profit, generating a refundable tax offset for the current year for tax paid in a...

Tax Benefits of Using a Pty Ltd Company For Your Business Structure:

by David Maynard | March 4, 2021 | Business Structures, Corporate, Franking Credits, Imputation System, Starting a Business, Tax Savings, Trust | 0 Comments

A tax benefits of using a company as a business structure is Franking Credits. How do they work? When a company makes a profit, it pays tax at 27.5% (small companies tax rate). Company tax paid is recorded in the company's "Franking" account. When shareholders receive...

What is the Australian Business Register (ABR)

by David Maynard | March 11, 2021 | ABN, ASIC, Australian Business Number, Australian Business Register, Australian Securities Investment Commission, Starting a Business | 0 Comments

What is the ABR? All businesses with an ABN are listed on the ABR. What's on the ABR? The information available on the ABR is limited as follows: Entity Name - The name of the entity, ABN Status - Active or not + history of dates, Entity Type - Company; trust;...

Buying an Investment Property in a Pty Ltd Company

by David Maynard | February 26, 2021 | Business Structures, Corporate, Starting a Business | 0 Comments

A recent determination by the ATO, TD 2021/2, confirms company Capital Gains Tax (CGT) concessions apply to "active" business assets only. Income from rental properties is defined as "passive." Accordingly, "passive" rental assets are excluded from the company CGT...

Trust with Corporate Trustee Case Study