Establishment
Confirm the intended trust type, trustee, state, registrations and additional-cost items before setup begins.
Trust accounting and tax · Sydney
Trust support from establishment through annual compliance.
Clear assistance for discretionary and unit trusts, including establishment coordination, tax registrations, annual accounts and trust income tax returns.
Connected support
A trust should be administered consistently with its purpose and documents.
Trusts can be useful structures, but they also involve legal documents, trustee decisions, tax registrations, record keeping and annual compliance. Joe’s Practice coordinates the agreed accounting and tax work and identifies matters requiring separate legal or financial advice.
- Discretionary and unit trust establishment coordination
- ABN, TFN and GST registrations where required
- Annual financial statements and trust income tax returns
- Trust distribution and year-end tax planning support
- Corporate trustee registration available at additional cost
- State stamping support where required and separately scoped
Common trust work
Support for the full compliance cycle.
Annual compliance
Prepare accounts and the trust tax return based on complete records and valid trustee decisions.
Tax coordination
Consider trust distributions alongside the agreed tax affairs of relevant beneficiaries and related entities.
Process
A clear trust engagement.
Understand the purpose
We discuss the intended activity, participants, trustee and state requirements.
Confirm professional roles
The accounting, tax, legal and financial-advice responsibilities are identified before proceeding.
Maintain compliance
After establishment, ongoing records, trustee decisions, accounts and tax lodgements are kept on track.
Common questions
Trust accounting FAQs.
Should the trustee be an individual or a company?
The choice has legal, asset-protection, administration and cost implications. We can explain the accounting and tax considerations and identify when legal advice is required.
Does every trust need an ABN and TFN?
The required registrations depend on the trust’s activities and circumstances. The appropriate applications are confirmed as part of the agreed scope.
Is trust stamping included?
State requirements vary. Stamping support is separately scoped and may involve additional government or professional costs.
Looking for a trust accountant in Sydney?
Tell us the intended purpose, trust type and timing and we will confirm the appropriate next step.
Email Joe’s Practice