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Does anyone use a trust to invest?

Home Forums Money Tax/Accounting Does anyone use a trust to invest?

  • This topic has 4 replies, 3 voices, and was last updated 4 weeks ago by LumberJack.
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  • #2209
    LumberJack
    Keymaster

    I’ve been thinking of setting up a family trust with a corporate trustee for share investments. I see the benefit to this being able to distribute to my partner when she is on maternity leave. Just to sure on the cost’s. Anyone have one of these purely for share investments, how much do you pay your accountant?

    #2214
    Sammy
    Participant

    I pay about $900-$1000 for my trust and personal tax return each year. My trust is pretty simple through, and I keep good records, so image that helps.

    #2217
    LumberJack
    Keymaster

    I pay about $900-$1000 for my trust and personal tax return each year. My trust is pretty simple through, and I keep good records, so image that helps.

    That sounds pretty reasonable, does that include a corporate trustee?

    #2346
    Sammy
    Participant

    Yep sure is, I just have to pay the yearly ASIC fee to keep it registered.

    #2350
    LumberJack
    Keymaster

    Great, I think that is the set up I’m going to use. Think I might wait till July 1 to set it up but!

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