Company vs Unit trust

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wrappack
Member
@wrappack
Join Date: 2003
Post Count: 182
August 21, 2004 - 8:48 am
For those of you who as of yet haven’t downloaded the development checklist of Peters’, I suggest you do! http://www.smartpropertydevelopment.com.au
My question relates to the Legal and accounting related questions.
Do I have the right legal structure ( a Pty Ltd company or a “Unit Trust”) to pursue the development.
Obviously, this is a highly technical area, in which ones accounting aspects apply.
In broad terms, when is one best to use a company, and when is one best to use a unit trust (or other trust)?
flash
Member
@flash
Join Date: 2003
Post Count: 140
August 22, 2004 - 8:01 am
Hi there,
There is a company called The Mint Group who deal with all issues reguarding setting up a trust and other aspects of property investment.
They are quite expensive but your better off paying for 1st class advice.
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Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
August 23, 2004 - 5:55 am
One bad thing about companies is ASIC regulations and you details (DOB, country of birth, address etc) become avaialable to the public to see. Trusts aren’t regulated by ASIC so everything is private!!
Terryw
Discover Home Loans
North Sydney
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au