Setting up a company

Setting up a family trust is never a bad idea – the trust can own the shares in your business. Trusts and companies limit liability.

Our trust cost us $250 – and it means that I can build a nest egg for the entire family – one that is protected from other members who you may have not wanted to benefit upon death etc.

The best book to buy is NE Renton’s “Family Trusts” and “More Family Trusts”

You need to get a good accountant to help you with this and take professional advice always:)

P

Hi,

Please be patient with me, as a newbie, and yes, I do know about the search function!

We have 2 properties, and are looking at buying another. They are in our joint names, which we are now thinking is probably not the best way to go, so want to get organised before we buy the 3rd property. Could someone please outline the benefits and drawbacks of setting up a company or a trust, and using it to buy. I’m just wanting the big picture, I don’t expect you guys to give me all the details.

Thanks very much.

You could always try this link too:)
http://www.pwc.com/extweb/manissue.nsf/docid/BF0CBEB0DF801CB285256ABF007E8505

If it doesn’t work try a search under trusts at price waterhouse cooper

Best,

P

Watch out for WA Princes’ link, it refers to the NZ tax system, different situation here (aust) with taxing trusts and family law matters. It is a good link nevertheless.

Terryw
Discover Home Loans
Mortgage Broker
[email protected]