Key aspects of a Trust
- can be expensive to set-up and operate
- require a formal trust deed that outlines how the trust operates
- require the trustee to undertake formal yearly administrative tasks
- if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.
- Read more about the lodging trust income tax returns on the Australian Taxation Office (ATO) website.
- Understand more about each business structure, including sole traders, companies and partnerships.
- Visit our Changing from a sole trader to a company section for a comparison of the differences between structures.
- Find out more about Registration and licences, including registering for an Australian Business Number (ABN).