Corporate Trustee & Trust Set Up

WHAT’S IT FOR?

A trust is an arrangement where a person or company (a ‘trustee’) holds assets on behalf of a beneficiary or beneficiaries. Many people choose to set up their business using a trust structure in order to obtain certain tax benefits and greater asset protection. Setting up a trust structure can be a little complex, and we generally recommend seeking tax advice before doing so, to ensure it is appropriate for your financial circumstances. The most common way to run a business as a trust is to set up a company to act as the trustee (corporate trustee) and set up a trust deed, which governs the way that the income and capital of the trust is distributed to the beneficiaries.

WHAT’S INCLUDED?

We will set up your trust with a corporate trustee.

This package includes:

• Initial phone consultation with a Sprintlaw lawyer (up to 60 minutes)
• 1 x application to register a company to act as the corporate trustee
• Electronic Company Register Pack, including the Certificate of Registration, Constitution, Share Certificates, Copy of Form 201, Register of Members and all required resolutions ad consents
• Preparation of a Discretionary Trust Deed in accordance with the requirements of your business
• Stamping your trust deed (if required in your state)
• 1 x ABN application for the trust

In order to set up your discretionary trust, you will need a “settlor”, who signs the trust deed and is responsible for handing over the settled sum (usually a nominal amount of $10) to the trustee. We can guide you on this process but we cannot act as the settlor. You will need to find a third party to be the settlor for this administrative step (which can be anyone you know but cannot be a beneficiary under the trust).

Please note that this package only includes the initial ASIC fee to set up your corporate trustee. You will need to pay ASIC annual review fees for that company. Your first payment will be required 1 year after the company is registered.  

Sprintlaw is a law firm and we do not provide tax advice. You should seek tax advice if you want specific financial advice around trusts or your financial circumstances.