Starting something new
A new business, a property purchase or an investment, and you want it held in the right name from day one.
Family trust set up and business structures
The right structure,set up once, properly.
Family trusts, companies, unit trusts and partnerships, chosen for how you actually earn, invest and plan to hand things on, then set up and kept in order year after year.
Who this is for
The structure question usually comes up at one of these points.
Outgrowing sole trader
Profits have grown, you’re paying top-rate tax and you’re wondering whether a company or trust would make sense.
A structure from years ago
You set up a trust or company a long time ago and aren’t sure it still fits how the family or business works now.
Going into business with others
A joint venture or professional partnership, and you want the agreement, the tax and the exit thought through first.
What we look after
Structures that suit your situation, not a template.
Family trust set up
We work out whether a discretionary trust suits you, arrange the deed and trustee company, register the trust for an ABN and TFN where needed, and explain how distributions and trustee resolutions work before the first 30 June.
For families holding a business, property or investments together.Companies
Company registration, share structure, directors’ duties and the ongoing ASIC compliance that keeps the company in good standing. We also look at how profits come out of the company, whether as wages, dividends or loans, so there are no Division 7A surprises.
For businesses wanting a flat tax rate and limited liability.Sole trader to company or trust
We model the tax on your real figures, then handle the move: new registrations, the transfer of assets, rollover relief where it applies, and the change-over with suppliers, banks and the ATO.
For sole traders whose profits have outgrown their tax bracket.Unit trusts and joint ventures
For unrelated people investing or working together, we set up unit trusts, partnerships and joint venture arrangements with clear ownership, sensible tax treatment and a plan for when someone wants out.
For property syndicates, developers and professional partnerships.Reviewing existing structures
We review the structures you already have against how you use them now, covering distributions, trustee changes, succession and asset protection, and recommend changes only when they’re worth it.
A structure that suited you in 2012 may be costing you now.Why TNR
Structures are a long-term decision. So is your accountant.
Getting the structure right is one of the few decisions that keeps saving tax, year after year. Getting it wrong can be expensive to undo, with stamp duty, capital gains tax and legal costs.
That’s why we start with a conversation about where you’re heading, not a form to fill in.
Craig and Brad have been setting up and running structures for Byron Bay families and businesses for decades, so we’ve seen how they work out ten and twenty years later.
We work with your solicitor on deeds and agreements where needed, and keep the annual paperwork, from resolutions to returns, under one roof.
Your accountant
Craig Page, Partner
Craig joined TNR in 1990 and has been a partner since 1995. He specialises in taxation and business accounting, including companies, trusts, partnerships, superannuation and tax structures. He holds a Bachelor of Business from the University of New England and is a Chartered Accountant, registered tax agent and Justice of the Peace.
Craig works with families and business owners on how their structures are set up, and on keeping them working as circumstances change.
Book a call with CraigHow it works
From first question to a structure that works.
A free
20-minute call
Tell us what you’re planning and what you already have in place.
We model
the options
Tax and practical pros and cons of each structure, on your numbers.
We set it up
for you
Deeds, registrations, ABNs and bank accounts, done in the right order.
We keep it right
Resolutions, returns and reviews each year, before 30 June.
Because he knows our businesses so well, we are comfortable following his advice.Dennise Simmons, Simmos Automotive Group. A TNR client for more than twenty years.
Questions people ask
How much does it cost to set up a family trust?
The cost depends on whether you need a corporate trustee and how the trust will be used, so we quote after the first conversation. The bigger cost is choosing the wrong structure, which is why we start with what the trust is for, not the paperwork.
Should I change from a sole trader to a company?
Often when profits are consistently higher than you need to live on, or when you want to limit personal liability. A company pays a flat rate of tax, but money taken out is taxed again in your hands, so it isn’t automatically cheaper. We run the numbers on your actual figures before you change anything.
Can I move my existing business into a new structure without paying tax?
Sometimes. Small business restructure rollover rules can allow assets to move to a new entity without an immediate tax bill, if the conditions are met. Stamp duty and GST also need checking, so get advice before any assets change hands.
What’s the difference between a family trust and a unit trust?
In a family (discretionary) trust the trustee decides each year who receives income. In a unit trust, each holder owns a fixed share, a bit like shares in a company. Unit trusts often suit unrelated people investing together; family trusts suit families.
Do I need a corporate trustee?
You don’t have to have one, but a company as trustee usually makes it easier to keep trust assets separate, to manage changes of control and to limit personal liability. For most trusts that will hold a business or property, we recommend one.
How should a joint venture be structured?
It depends on whether the parties are sharing output or sharing profits, and how long the venture will run. Options include an unincorporated joint venture, a partnership, a unit trust or a company. We work through tax, liability and exit before the agreement is signed.
Free 20-minute call
Talk to us about where you’re up to.
A complimentary, confidential 20-minute call, by phone or Zoom. No forms and no obligation.
Book a 20-minute call
Or call the office on (02) 6685 6529