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Assets in a trust are protected by the terms of the trust (the trust deed) and the state or territory trust law.
A trust can pay:
- wages to employees and/or the trustee
- a share of trust profits to beneficiaries.
Generally, the rule is beneficiaries are not liable for the debts of the trust. The trustee is liable for the debts and they can use the trust’s assets to pay those debts.
Last modified: 22 Aug 2024
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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