Thanks again!

How would a discretionary trust look?  From what I've read that as an individual, I can't be the trustee and the beneficiary of a discretionary trust.  Is that right?

Cheers,

Steve

Hi Terryw,

Thanks so much for taking the time to reply.  Just to clarify further, we would have a company with the shares owned by separate discretionary trusts (I assume that we should both have our own), or that the shares are owned by one unit trust, with the units split between the two of us (but both owned by our discretionary trusts rather that ourselves as individuals). Is there an advantage in using one or the other structure?

If we set up a company, who should be directors?  Both of us?  And also, could be both own the access to the bank accounts?

And one other quick question if you know the answer! If we subcontract ourselves to the company, rather than work for the company as employees, does that mean we avoid issues with worker's comp insurance, PAYG and superannuation?

Thanks again for such good advice! Hopefully another meeting with the acct early next week and I'm starting to get a better picture of what I need to be asking!

Cheers,

Steve