TRUST ACCOUNTING & TAX: BUILDING A SECURE FUTURE

Trusts offer a powerful tool for protecting business and family assets, managing income effectively, and crafting a strong financial future. Carefully designed trusts can streamline income distribution, minimize tax burdens, and create a solid framework for long-term wealth preservation.
However, establishing and managing a trust can be complex. Careful administration is crucial, including annual updates to ensure compliance with strict legal requirements.

FAMILY PROTECTION & ASSET SECURITY: HOW TRUSTS CAN HELP

Gain a deeper understanding of your personal and business risks.
Secure your personal and business assets.
Shield against the financial impact of family breakdowns, divorce, and separation.
Minimize taxes through strategic income distribution and potentially benefit from lower beneficiary tax rates.
Ensure a smooth and planned transfer of assets to future generations.
Safeguard your assets from potential claims in legal disputes and bankruptcy (subject to certain limitations)

ENSURE YOUR TRUST COMPLIANCE WITH EXPERT GUIDANCE

Don’t navigate the complexities alone. Our expertise empowers you to manage trust effectively, minimize tax burdens, and protect your assets. A well-drafted trust deed, crafted by professionals, forms the foundation for a secure future.
Under professional management, trusts can be used to strategically distribute income among beneficiaries, potentially reducing the overall tax burden if beneficiaries are in lower tax brackets.

PATS Accounting Professionals can assist you with:

Obtaining a Tax File Number (TFN) for the trust to lodge annual tax returns.
Establishing an Australian Business Number (ABN) if the trust carries on an enterprise.
Registering for Goods and Services Tax (GST) if the trust’s annual turnover exceeds the threshold: $75,000 for most businesses and $150,000 for non-profit organizations supplying “connected entities”

CHOOSING THE RIGHT TRUST: EXPERT GUIDANCE FOR YOUR FUTURE

Selecting the optimal trust structure requires careful consideration of your goals. PATS Tax Accountants helps you navigate the complexities and identify the most suitable structure for your business or family. We go beyond simply choosing a trust; we ensure it’s strategically designed to minimize tax implications and other associated costs, safeguarding your financial future.