Trust with Corporate Trustee Case Study

David Maynard

8 years ago

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 …..

Ask us a Question

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.

How to register a Pty Ltd company

by David Maynard | November 19, 2018 | Corporate, Starting a Business | 0 Comments

When thinking about how to register a Pty Ltd company, proprietary (Pty) means privately held and Limited (Ltd) indicated a limitation to liability of the shareholder(s). So a Pty Ltd company is a privately held company which is limited by shares. Pty Ltd companies...

Tax Benefits of FBT For Companies and Trusts

by David Maynard | March 8, 2021 | ATO, Australian Taxation Office, FBT, Fringe Benefits Tax, Starting a Business, Tax Savings | 0 Comments

Fringe Benefits Tax (FBT) legislation was introduced in 1986 to capture tax revenue on certain employee "non cash" benefits. For example, FBT will capture the private use by employees/directors/associates of a “company” non-commercial vehicle. However, tax savings can...

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...

Director Identification Number (DIN) Is Now Mandatory

by David Maynard | November 7, 2022 | Starting a Business | 0 Comments

Director IDs (DIN) is now mandatory for every company director. A DIN must be registered by the end of November 2022. A Director must apply for a DIN by November 30 2022 or face a penalty of up to $13,000.00. So getting a DIN is very important. Applications can be...

Start a Business in Australia

by David Maynard | April 9, 2021 | Starting a Business | 0 Comments

To start a business in Australia, you need two things: a phone and a web page. They are the bare minimum. Whilst that will get you started, several other considerations can impact the business setup process... Other considerations can include: Should you have a plan?...

What Registrations Do I Need to Start a Business

by David Maynard | January 28, 2019 | Starting a Business | 0 Comments

What Registrations Do I Need to Start a Business When starting a business there are some miss-conceptions about what registrations are required to start a business. Whilst there are some specific registration and or accreditation requirements, for example; builder...