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Trusts

Trusts & SMSF’s

 

BWD can setup or review your Trusts to ensure the intended Trustees and beneficiaries established correctly. An incorrectly structured trust can impact on taxation and estate distributions.

Advantages of Trusts:

  • limits liability if a corporate trustee is appointed
  • provides more privacy than a company
  • provides flexibility in distributions among beneficiaries
  • income is generally taxed as income of an individual.

Disadvantages of Trusts:

  • the structure is complex
  • can be expensive to establish and maintain
  • borrowing can be an issue due to additional complexities of loan structures
  • trustees are restricted by the trust deed.

Establishing a SMSF is dependent on a good trust structure

Setting up a SMSF requires a bit of care. The SMSF structure involves the establishment of a number of issues to manage the funds, taxation and member accounts. Once established your SMSF can invest in shares, managed funds or property, all held within a complex trust structure.

Buying an investment property in Self Managed Super Fund

Many like the idea of buying a property in an SMSF. This can be a residential investment property, commercial property or your business property. We are specialists in this area and in fact have done it ourselves.

Borrowing in an SMSF

Would you like to buy a property in an SMSF but don’t have enough cash? You might be able to borrow to purchase that investment or your business property with the opportunity to borrow funds from a bank.

There are quite a few rules surrounding this investment type, so you will require a specialised firm such as BWD Accountants to guide you through the maze of law. An inexperienced advisor can be very costly!

 

We can assist with the bookkeeping or do the bookkeeping and reconciliations for you. We use CLASS software to record and produce the Financial Statements, Tax Returns and other documents for the Fund.

We can coordinate your ATO correspondence and BAS obligations. We can also lodged annual tax returns and statutory financial statements.

BWD can help you set up a business

Call us now 9997 7646