A trust is managed by a trustee. A trustee can be an individual, multiple individuals or a company. The trustee is legally responsible for the control and management of the property or assets of the trust for the benefit of the beneficiaries. There are also formal yearly administrative tasks for the trustee to carry out. This includes lodging an annual tax return.
A sole beneficiary of the trust cannot be the sole trustee.
Last modified: 15 Nov 2023
Starting a small business
| Steps | Progress | ||||
|---|---|---|---|---|---|
Is my hobby a business? |
9 mins | ||||
Business structures overview |
5 mins | ||||
Business registrations |
5 mins | ||||
Sole trader structure |
7 mins | ||||
Partnership structure |
10 mins | ||||
Company structure |
13 mins | ||||
Trust structure |
7 mins | ||||
Small business support |
10 mins | ||||
Related courses |
1 mins | ||||
Course Feedback |
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