If a business is run through a trust with a company trustee.
Does the company trustee itself trade as it has a separate ABN and is registered for GST ?
Thank you.
No Joseph, the trust will need its own ABN and registered for GST. On the other hand, if the corporate trustee doesn't do anything else, it shouldn't be registered for GST.
Agree with eddiec.
The corporate trustee will have an ACN as it is a company and it will do nothing else. The trust itself will be running the business and will require an ABN, TFN and as required may be registered for GST. If the business has a substantial holding of assets such as plant and equipment you may wish to use two trusts; a service trust that does the billing and invoicing and an assets trust that allows the service trust to use its plant/equipment, however is held as a separate entity.
Best to check with you accountant.
A good and simple read on this topic is "How to legally reduce your tax" by Tony Melvin and Ed Chan.
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