Hi,
Is anyone able to shed any light on what record keeping is required for Trusts? Is it like a company where you can do your own accounting & just pass it over to your Accountant for tax, distribution of funds, & BAS statements? Or do you need to have a bookkeeper or accountant do all of the record keeping for you?
Can anyone give me an idea of what it is costing you to operate a trust, maybe for a financial year period?
Any suggestions or advice would be great!! [evo]
Thanks,
E.
Yes, you can do it all yourself. I do all mine myself.
Annual running costs of a trust is just the accountaning/bookkeeping fees.
Terryw
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You need to keep accurate minutes of meetings etc as well..
Not sure if there’s some kind of checklist available though to ensure you keep all your ducks lined up?
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