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ChefTom
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JamesMillar, post: 249725, member: 5318 wrote:
If you are both unrelated to each other (ie not family) then I’d suggest a discretionary trust (often referred to as a family trust) is inappropriate in this case. A discretionary trust doesn’t offer any stakeholders a fixed ownership interest and is governed predominantly if not entirely by trust law which is far less robust than the Corporations Act that applies to companies. You could have a straight trading company and hold the shares within two separate trusts (one each) and achieve similar tax outcomes whilst still having the benefits of a company (including the new 27.5) tax rate if you leave profits in the company.

Thanks for your reply, so you think I should register as a company? Could you explain the whole process?
thanks.