Setting up and running a trust can be expensive as a formal deed is required. The deed sets out the rules for how the trust will operate. The trustee must act in accordance with the trust deed distributing income to beneficiaries as outlined in the deed. A trust cannot distribute losses to beneficiaries. It can carry losses forward to offset future year’s net income.
The trustee must also deal with the trust property in accordance with the relevant state or territory trust law.
Last modified: 25 Aug 2022
Starting a small business
Steps | Progress | ||||
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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 | ||||
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