Trusts in Business

The trust businesses we commonly encounter are families businesses. The trust structure allows the family to benefit from the earnings of the business and also keep the business assets and risk separate from their personal assets, like the family home. The benefits are similar to having an investment trust.

For those in business we ask that you consider as a minimum that:

  • loans to companies and shareholders should be monitored
  • distributions must be done correctly
  • separating assets into a trust may not protect against personal bankruptcy
  • fringe beneits tax is always an issue
  • future possible capital gains tax can be affected by your actions today

Lucentor is avaible to assist with all your GST and income tax compliance and the tax planning aspect of your trust business. We seek to comprhend how your business works and how this fits with your tax world. Contact us to discuss your trust business.