TRUST WITH CORPORATE TRUSTEE

CASE STUDY

CORPORATE TRUSTEE

Jack is married with no dependent children, and at age 60, Jack is made redundant from his job …..

Jack started a business

Jack applied for a number of positions but found his age working against him and decided to buy a tipper truck and become an owner driver.

Pty Ltd company or a Family Trust

Before purchasing a truck, Jack secured a contract with a local contracting transport company specialising in tipper trucks who only deal with sub-contractors operating through either a Pty Ltd company or a family trust

We supplied the new structure

After consultation Jack chose a family trust structure with a corporate trustee.

We supplied the new structure within 24 hours with all necessary ATO registrations and is now a self-employed owner driver operating through a family trust.

The Family Trust Structure

The family trust structure with corporate trustee met the requirements of the contracting transport company and met the personal tax needs for Jack and his family.

25% Tax Rate FY 2022 – More Reasons To Set Up A Pty Ltd Company

by David Maynard | July 1, 2021 | ATO, Australian Business Number, Australian Business Register, Australian Securities Investment Commission, Business Structures, Corporate, Starting a Business, Tax Savings | 0 Comments

From 1 July 2021, the new company tax rate in Australia is 25%. If you intend to start a business, a company may be the best business structure to start with. For some business start-ups, liability protection is important. However, the new company tax rate of 25% is a...

Tax Benefits of Using a Pty Ltd Company For Your Business Structure:

by David Maynard | March 4, 2021 | Business Structures, Corporate, Franking Credits, Imputation System, Starting a Business, Tax Savings, Trust | 0 Comments

A tax benefits of using a company as a business structure is Franking Credits. How do they work? When a company makes a profit, it pays tax at 27.5% (small companies tax rate). Company tax paid is recorded in the company's "Franking" account. When shareholders receive...

Start a Business in Australia

by David Maynard | April 9, 2021 | Starting a Business | 0 Comments

To start a business in Australia, you need two things: a phone and a web page. They are the bare minimum. Whilst that will get you started, several other considerations can impact the business setup process... Other considerations can include: Should you have a plan?...

Stories From The Trenches – Business Principles

by David Maynard | November 10, 2021 | Starting a Business | 0 Comments

Today I want to share a brief story of a young couple operating a business. It is a real story about real clients that highlight planning principles in small businesses. Case Study Some years ago, a young couple operating a business asked me to look after their tax...

Starting A Business? Do I Need A Plan?

by David Maynard | November 17, 2021 | Starting a Business | 0 Comments

When planning to start a business, there are many things to consider: some financial, some conceptual, and others just plain practical. In the 80's and 90's we could count on a certain percentage of clients working as employees, transitioning to some form of business....

Loss Back Tax Offset For Companies – 2021

by David Maynard | March 4, 2021 | ATO, Australian Taxation Office, Corporate, Starting a Business, Tax Savings | 0 Comments

The new Loss Back provisions for companies commences with lodgment of 2021 tax return. The Loss Back provisions allows a company to offset a current year loss against a previous year profit, generating a refundable tax offset for the current year for tax paid in a...

Trust with Corporate Trustee Case Study