Home – New Forums Starting your journey ABN for Trust or company Reply To: ABN for Trust or company

#1139329
abnaustralia
Member
  • Total posts: 11
Up
0
::

Hi Brian,
The structure you have described is not uncommon. It allows for improved asset protection and income distribution through your family trust.

I agree however that it is worth getting your tax Accountant to give it the once over.

Btw where did you get your trust deed from? Has it been drafted to ensure compliance with the law and how up to date is it?

Regarding your query on bank accounts, the holding company is unlikely to need to open one. Your family trust will, and yes you will need an ABN to do so. (Assuming intention is for your family trust to earn consulting fees from the operating company).