FAQ 4 Is a trust and corporate trustee set up an overkill

Is the trustee/trust structure an over kill? Can I get by without using a trust. My accountant is saying that I don\’t need a trust. My accountant tells me that I lose negative gearing benefits if I use a trust.

These are a few of the many comments that we have heard over the years of coaching students.

When setting up a structure, thought has to be given to the long term not just the immediate. These structures will primarily protect assets and in addition will give flexibility to distribute any income to any beneficiary  and vary these distributions.Inheritance planning will be eased. The flexibility of being able to distribute any profits means that these may be more tax effective vehicles. Remember that it is costly to move assets into a trust structure at a later stage as it will involve stamp duty payments and possibly Capital Gains Tax.

Michael & Sara
Ultimate Coaches

The information supplied is general only and not intended to replace professional advice.

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