Trust Tax Returns in Melbourne

A Trust is an obligation which allows a person or other entity to hold the property for the benefit of beneficiaries. The trustee is responsible for managing the Trust’s tax affairs.

Here at eFirm in Melbourne, we can provide all the necessary assistance for making and maintaining a Trust, and whether a Trust is right for your circumstances.

Your Assets

By putting an asset in the trust, you do not own the assets under your name. The assets are legally controlled by the trustee. You have the power to control those assets and set out who receives the income arising from the assets.

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Substantial Assets?

If you have substantial personal or business assets and are considering setting up a trust for the benefit of your family, our tax specialist at eFirm can help you to identify the right structure of the trust, and assist you to maximize long-term wealth and asset protection.

What You Need to Do

Apply For an ABN

The trustee must apply for an ABN and use it for all business and investment dealings.

Register for GST

The trust must be registered for GST if its annual GST turnover is $75,000 or more.

Lodge a Return

eFirm will lodge an annual trust tax return showing all income and deductions from the business.

Help With Jargon

We understand that trust tax returns can be confusing to understand, but we are here to clear the fog.

Popular Trusts

Discretionary trusts — also known as family trusts — are the most popular form of trust in Australia.

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To discuss more about trust tax returns, call 03 9034 7126

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