Six Important Things To Think About When Setting Up A Family Trust
Family is the most sentimentally precious and priceless gifts you can ever be blessed with; they are the apple of your eyes and the centre of your universe. You would...
Company Share Information
Shares If a company with share capital issues shares, they must keep a record of all the shares they’ve issued. This record is sometimes called ‘the register’ or the ‘share...
What is a Public Officer?
A public officer is a company’s representative to the ATO and is responsible for the company’s obligations under the Income Tax Assessment Act 1936 Section 252. The public officer is responsible...
Voluntarily deregistering a Company
If your company meets certain criteria, you can apply for voluntary deregistration. This closes your company and removes your obligations as a company officeholder.You need to pay any outstanding fees...
Thinking of becoming a company officeholder? Read on..
The Corporations Act 2001 & general law requires that, as a company officeholder, you need consider seriously what the position & responsibilities entail before you put your hand up &...
How to Choose & Register a Company Name
It is most important to consult with legal or financial (or both) professionals before you lodge a company order if unsure of any aspects of the entity’s setup.If you are not sure...
How to Register a Company
If you are not sure what name to give your new company when you register with ASIC, a name is not essential or compulsory. It can be the exclusive company...
What is the Role of a Settlor?
A person who has been named as Settlor in a discretionary trust only has one duty to undertake, he/she makes a gift of the “settled sum”, usually a nominal amount paid by...
What Information is Required to Establish a Discretionary Trust
Once it has been determined that a discretionary trust set up should be established, it is important if hesitant regarding the trust set-up, to seek professional advice to ensure all terms are...
Responsibilities Imposed on Directors
There are numerous and important legal responsibilities imposed on directors under the Corporations Act 2001 and other laws, including the general law. Of these duties, some of the most significant are: to act in...
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,...
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....
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...
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...
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”...