New Business & Trust Fund Setup Services

Setting Up A Trust For Your Business

Trust setup for businesses is similar to trusts for families. It involves a trustee (an individual or a company) carrying on business operations for the benefit of other people (the beneficiaries). A trust is set up through a formal deed which outlines how the following trust fund will operate.

Talk to an expert at Verus Accountants and Advisors today to find the correct structures for your business, and ensure the right people are in the key positions of those entities.

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How Do Trust Setups Work?

Trusts, unlike companies, are not separate legal entities. The trustee of the business trust is the legal entity that owns the business assets and enters into contracts on the trust’s behalf.

Trustees are responsible for the operation of the trust. As a result, they are legally liable for the debts of the trusts. If the trustee is a company (a corporate trustee), this can reduce liability. Trusts can be tax-effective strategies for your business, due to their flexibility in their income and asset distribution.

Advantages Of A Trust Business Structure

Because businesses vary in nature, it's critical to fully comprehend the consequences of each kind of business management. We can provide the following advantages should you opt for a new business setup.

Liability

A trust shields you from liability for losses or debts incurred while operating a business if set up correctly

Tax

If it minimises their tax burden, profits from a new business trust can be dispersed to beneficiaries in proportion to their total taxable income, resulting in the highest marginal tax rate.

Asset Protection

You can use a trust to protect your company's assets. This is because assets held in a trust are distinct from those controlled by a beneficiary. As a result, the trust will be protected from creditors attempting to seize funds belonging to a beneficiary in order to pay off debt.

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Why Choose Verus To Help Set Up Your Company’s Trust Funds?

It is crucial to have the correct trust setup initially to avoid significant future costs; Capital Gains Tax, stamp duty, lawyer costs, etc.

With the guidance of our professionals, you can create and protect your wealth through long term planning using a trust structure. As every taxpayer’s circumstances are different; family, kids, jobs, current earnings and tax bills, we will work with you one-and-one, and based on your lifestyle, recommend viable strategies to meet your goals and objectives.

We are able to achieve your goals within the boundaries of the Australian taxation laws so that you will have a peace of mind that even in the case of an audit from the Australian Taxation Office.