Family Trusts are discretionary trusts that have the ability to choose to whom their income goes provided you meet the right conditions from a trust deed and tax perspective.Generally, they exist as a holder of property, business assets or as the vehicle for holdings in other trusts or companies (to name a few examples) on behalf of others, usually a family group, for their benefit.They distribute the income of those holdings every year, with that distribution being required to be declared by June 30 of each year.

Accounting

July 13, 2023

Last year, we foreshadowed the upcoming Director ID requirements, with all Company Directors required to have Director IDs ready now before they become a director of a new company.

Accounting

March 25, 2024