How Do I Register a Domain Name for My Business
Making sure that your domain name is available before you try to register it is the first step. It isn’t compulsory to register a domain name when commencing your business, unless you want to build your own website with a unique domain. A website domain is an important marketing tool & a worthwhile aspect of …
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Family Trust Vs Unit Trust
Family or Discretionary Trust A trust is basically a legal structure whereby a person or company (the trustee) holds assets on trust for the benefit of a group of beneficiaries. In a family trust, the beneficiaries are usually all related, however they can also include family companies, other family trusts and charities.With a family or …
What are the Advantages of Having a Company as Trustee of a Unit Trust?
Some of the advantages of using a corporate trustee include: Removal of the bulk of the risk of personal liability which is the worry individual trustees are exposed to (although the directors of a corporate trustee may be personally liable in certain circumstances). It is easier & cheaper to effect a change in control of …
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What is a Beneficiary?
A beneficiary is a person for whom a trust is created & who receives the benefit of that trust. With regard to most discretionary trust deeds “specified beneficiaries” are listed on the schedule and are most commonly immediate family members, & included in the deed is a clause relating to “general beneficiaries” such as parents, …
What is a Settlor?
A person who makes a gift (AKA “settlement”) of money under a Deed is the usual way to establish a discretionary trust. The gifter of the money (“settlement”) is called the “Settlor” & the money gift the “settled sum”. The Settlor can be anybody over the age of eighteen & not be a potential beneficiary under the …
When do I need a Company Secretary?
When do I need a Company Secretary? When you register a proprietary company in Australia, it is mandatory to have at least one director residing in Australia. Australian Securities and Investments Commission or ASIC do not state that this type of business should appoint a secretary. When you register a Public Company Limited by Guarantee …
What Do You Need To Setup A Bare Trust
Bare Trust Requirements Establishment of a bare trust set up is only required should you need to take out a loan (from a bank, private lender, or other source) for the purchase of a residential or commercial property through your SMSF. If a residential property is sought for investment purposes, it cannot be your home, …
Company Director Responsibilities
Company Directors Being a director of the company requires an instilment of virtues and responsibilities in every endeavour that you will take. Aside from the willingness to perform the needed tasks with utmost priority and concern, you should also be able to comply with the legal obligations found under the Corporations Act of 2001 and …
All you need to know about Business Name Registration
Business Name: Business name or trading name uniquely identifies your business from other rivals in your area. With a unique business name, your customers can easily identify your business and even have an emotional attachment to your brand. During registration, a business name is linked to Australia Business Number (ABN). Is it always a must …
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Register Your Company Rewrite
You need to do your homework before you decide to register a company. There is quite a difference between various business structures compared to a company, namely financial, legal & record keeping obligations. It is most important to consult with legal or financial (or both) professionals before you lodge a company order if unsure of any …