Taxopia Trust Establishment

Establish your Trust with Taxopia

Taxopia Trust Establishment

If you’re looking to establish your own trust, you’ve come to the right place. At Taxopia, we have an online form to help you easily and quickly establish a discretionary (family) trust under Australian law.

The setup cost for a standard discretionary, unit or family trust with electronic documents is $475 + GST + 2% credit card surcharge (if applicable) and will include:

Trust deed documents
Required minutes for trustee appointment
Unitholders certificates where applicable
$200 State revenue office stamping fee included
Application for Trust Tax File Number (if applicable)
Application for Trust Australian Business Number (ABN) if required
Application for GST and PAYG withholding on wages if required

The form takes approximately 10 to 15 minutes to complete and you can save your progress to resume later.

To start, click on the “Start Now” button below.

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What is a Trust?

A Trust is an obligation imposed on an individual or company to hold property or assets for the benefit of others. The holder of the trust is called the Trustee and the others are Beneficiaries. Trusts are not at a separate entity therefore liability lies with the Trustee. The Trustee is responsible for all business operations and there are yearly administrative tasks to complete. All transactions are undertaken by the Trustee and all are therefore a personal obligation.
A Trust is a more expensive business structure to set up, but there are benefits to working within this model. The Trustee can be employed by the Trust, and there can be employees. Income Tax doesn’t need to be paid for this structure as an entity but is passed on to beneficiaries however, GST may be applicable. Tax-free capital gains and tax incentives can be claimed by the beneficiaries should the structure be set up to allow this. A Trust requires an official Trust Deed to be completed by a qualified accountant or business lawyer.

There are two types of trusts and they are a Unit Trust and Discretionary Trust. Unit Trusts are fixed, and Discretionary Trusts are not fixed. Beneficiaries of a Unit Trust are similar to shareholders in a company, beneficiaries can be referred to as Unit Holders. In this model, the beneficiaries hold the beneficial assets in the trust assets. A discretionary trust allows the Trustee to determine distributions for the Beneficiaries.

As with other types of Australian business structures, an annual tax return must be lodged and a tax file number must be obtained. If the trust is carrying on an enterprise or business activity in Australia, then an Australian Business Number registration must be obtained as well.

Taxopia Trust Establishment

Establish your Trust with Taxopia