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Corporate CostsAD [678 Posts] I am looking at starting to establish myself "properly" in this game and talked to a solicitor the other day who said he would set up a Company and a Trust for $1650.Is this a fair amount. I would love to find out what others charge, etc. to see if these costs are reasonable or not. Enjoy AD Puck [6 Posts] Hi AD the price you have listed is the going rate for a company and a trust. normally around 900-1100 for company and 500-700 for a family trust. SteveMcKnight [1560 Posts] Andrew, The business that we use to establish entities for our accounting clients, together with an outline of their pricing, is http://www.shelcom.com.au/services.htm You might also expect to pay about $400 (2 hours) of time for your accountant / lawyer to fill in the necessary paperwork and ensure that the documents you receive are correct. Accordingly, the $1,650 you were quoted does not appear to be unusually large. Regards, Steve McKnight CY [10 Posts] Steve, or others! For ASSET PROTECTION, the way to go seems to have family (disc) trust & have a company as trustee. Q: 1. To achieve the above, does it mean one has to setup one company AND one trust ? Cheers, AD [678 Posts] Hey CY, I think setting up a company, etc depends on how far you want to go. Doing one or two outside a company won't kill you but if you get serious then there are (depending on circumstances) great options in setting up a structure. I got a solicitor to set up my company and trust and I think any acct or Sol. can do so. Ended up costing me $1270 plus about $110 for the Acct. to do a few bits. (Having friends helps). I am the sole director as my wife owns out family home solely....nicely separate. As I have already bought two properties prior to this company I will have to pay Stamps again to move them into the trust.....such is life. We need the Accts here Steve or Dave !! Hope this Helps Enjoy AD Hurdles are merely stepping stones for thwe successful. TheB [137 Posts] Hi CY & AD One way of doing this is to have BOTH a company and a trust.
advantages: disadvantages: Howzat ? cheers the Bruce SteveMcKnight [1560 Posts] Hi, I thought that it would be appropriate to point out that correct structuring will be a feature topic at the upcoming seminar. Chartered Accountant and tax expert Paul Harper will show you exactly how to set up a multiple entity structure that is both tax efficient and also appropriate to protect your assets. Paul will show you the correct structure (in fact the exact structure that David and I use) and then I'll show you how I make use of it to secure unlimited finance. Book your seat early - call the office on 1800 660 630 to find out more. Regards, Steve McKnight rx2_73 [36 Posts] I have recently been in contact with an accountant, who quoted me: $1430 Company trust Total $2530 Looking at the postings here, one would suggest these prices were considerably high? Cheers Rob spider_2 [82 Posts]
Terryw [6302 Posts] From a borrowing perspective, it may be wise to only have one director of your company as this will limit your guarrantee. (Directors must guarrantee loans in the company name.) Terryw |
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can be quite tricky <more> Active forum topicsInvestment Trust - Recommend a Bank Author: lbglen Asset Protection for Residence and investment - which trust? Author: WarranH Who's Online |
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