Home – New Forums Money matters Can business name be used on all documents?

  • This topic is empty.
Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • #995568
    proplans
    Member
    • Total posts: 4
    Up
    0
    ::

    hi all, I’ve tried searching but can’t find an answer to my question.

    I have a business that is currently operating as a sole trader, and I am looking to change the structure.

    I am planning to set up a discretionary trust as the trading entity, however I am a bit confused as to how I will sign contracts and documents!

    Can a contract or agreement just state my registered business name and the trust ABN? Or does it have to appear as XYZ as trustee for XYZ trust T/as ProPlans?

    Thanks in advance!!

    #1202657
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,488
    Up
    0
    ::

    Hopefully some helpful members will be along soon with some on-point advice.

    Cheers

    #1202658
    tfowler
    Member
    • Total posts: 25
    Up
    0
    ::

    Hello there,

    With a trust structure you do have the flexibility to sign as either the trust or your trading name.

    It really does depend on what you are doing as to what you need to supply.

    If you are applying for a credit account with a new supplier, they may require 1. A legal entity name – this is your trust ABN and trust name in full, and 2 Your Trading Name – this is your trading or business name.

    For Example my business is a trust – ABN 27 654 539 654 – but I have listed two business names under the trust (which is optional) – BDM Credit Management and BDM Sales (this can be checked on the ABN Lookup website abr.business.gov.au) I have this ABN on my business cards, but all of my documentation has BDM Credit Management on it.

    I hope this is helpful, if I haven’t answered your question properly, or you need further clarification, just let me know.
    cheers

    Tracy

    #1202659
    Easysmb
    Member
    • Total posts: 84
    Up
    0
    ::

    Hi There,
    Tracy made good points. Agree.
    Business name is legally registered and linked to ABN, and it can be checked by public.
    From your business side, you can use business name only on any places you want, marketing material, name card, business stationary etc.
    For other situation, like credit application, lease documents etc, they would require the full name of the legal entity also.
    Good luck.

    #1202660
    Chrispro
    Participant
    • Total posts: 93
    Up
    0
    ::

    In this instance would Tax Invoices need to reflect the Company and Trust name, or just the Trading Name? thx

    #1202661
    tfowler
    Member
    • Total posts: 25
    Up
    0
    ::

    I have both on my invoices… but you can have either one if you choose. If there is space for just one name… go with your trading name… I would just make sure that you have your ABN on the invoice.

    regards

    Tracy

    #1202662
    Chrispro
    Participant
    • Total posts: 93
    Up
    0
    ::

    Great, thanks for the info.

Viewing 7 posts - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.