Trusts may be an effective way for a business or family to plan and minimise taxation. They provide flexibility in the distribution of income and capital gains which may help reduce tax significantly.
Trust beneficiaries are generally not liable for trust debt. In the event of a lawsuit, a bankruptcy or a relationship breakdown, a trust may help protect your assets.
Family trusts may protect future generations – your children and their children – by preserving their inheritance and sheltering them from taxation issues like capital gains and stamp duty.
While trusts have many advantages over partnerships and other business arrangements, they are a complicated legal structure that must be set up correctly and operate within the NSW Trustee Act.
Baldock Stacy & Niven are acknowledged experts in this area and with our depth of knowledge of taxation and corporations law, know all the nuance required to help you set up an effective trust arrangement that suits your personal or business situation.
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If not contact BS&N Business.