The Wise Accountant
Region: AU
Wednesday 15 July 2026 07:36:47 GMT
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magentamountain :
Why u shouting at me
2026-07-15 14:38:56
12
Sweaty_Goat :
I normally love you videos, but on this one I can’t agree… I’ll keep it short:
2026-07-15 15:14:34
5
Jim Krajancich :
Exactly. A company is a separate legal entity. A trust is described as a relationship between a trustee and a beneficiary. A family trust typically has primary beneficiaries that property must be vested to them if they are alive (this is the obligation/trust part). A family trust typically has secondary beneficiaries where property may (might) go to them if the trustee exercises its discretion before vesting date. Now, the primary beneficiaries have a contingent interest in the assets that can be defeated by the trustee by appointing a secondary beneficiary. The secondary beneficiaries have no interest in the assets at all (just a hope or expectancy). At law the trustee is the full absolute owner of the assets. They don’t just have control. It is not a trust in the strict legal sense where there is a separation of legal and equitable interests. Though I understand for accounting purposes that accounts show the trustee company owns just $2 and a right of indemnity. But legally the company does own the property (similar to an executor of a Will before it has been administered). It is an area of law that has been clarified. Also unit trusts are not generic. Some are similar to family trusts where the trustee has full absolute ownership and others provide that certain unit holders have a beneficial interest in the assets. Many taxpayers and some professionals don’t have a full understanding of the trust deed and legal ramifications.
2026-07-15 17:40:17
2
JUDETUBE MORAN :
Agree, I cannot see how people to this.
2026-07-15 23:22:25
3
Anthony Deloitte :
love your advice
2026-07-15 13:48:22
3
georgeeae :
There’s a lot of talk about rollover and transitioning family trusts to companies. However for family trusts with passive investments and no business trading , going to a company and missing CGT discount isn’t viable . What are the alternatives????
2026-07-15 19:58:26
2
donnaporter29869 :
So how do we change
2026-07-15 10:47:13
2
pvafree :
family trust owns the company, and the company pty runs the company? is that alright
2026-07-15 11:37:31
2
Aston Fox :
So my accountant set up our abn as the family trust but our company with an acn? Thoughts?
2026-07-15 20:00:10
2
China sourcing :
loving you knowledge, how about a unit trust?
2026-07-15 08:56:15
2
00000000 :
How do trusts and SMSFs hold property?
2026-07-16 01:07:13
2
Tik Toker :
Key words.. “turning over millions of dollars..” perfectly fine if it’s always going to family oriented
2026-07-15 09:34:24
3
El Grego :
Wow. Cheapest taxes in the developed world
2026-07-15 22:28:45
2
J T :
next !
2026-07-16 00:06:54
2
GB Financiials :
Great info indeed 👍
2026-07-16 04:40:51
2
MrsSuziG 🇦🇺🐨🦘 :
So a company that is the trustee for the family trust?
2026-07-16 04:21:55
2
Crazyhorse99 :
I’m moving all my money overseas. Only thing I have in Aus is debt 😁
2026-07-16 12:00:15
2
Dean 🇦🇺 :
Tax accountant here, 25 years, operate trusts regularly for business, structural enthusiast right down to corporate appointors and hybrid trusts - wouldn’t agree here, except for, yes at larger scale distributions to family exceeds the benefit of company tax rate - if they leave retained earnings anyway. We also almost never sell the shares of a company to sell the small business. That’s risk 101. Skimming over the requirement in a company for wages that then triggers FBT is also noteworthy. Love your work but I don’t think the simplification on this post lands.
2026-07-16 04:00:30
2
duke_george :
but what are the negatives of it? you didn't go into them other than to say it can be complex. if i understand them, what's bad about it?
2026-07-15 13:47:35
2
Andy :
Good stuff, keep up the good fight
2026-07-15 09:51:47
2
Heath Elder :
Question! So before the great and wise albo " changed his position " , I had just set up a trust and company with plans to start trading in September. I know think it would be best to not use the trust structure, Can I use the company without the trust?
2026-07-15 09:35:32
2
Tom Watson Snr :
so many fake accounts using your profile. tiktok need to do better.
2026-07-15 23:09:51
1
WYL2K :
Aren't people moving to Irrevocable Trusts
2026-07-17 03:59:40
2
icecool :
You are missing the whole idea of a family trust.Its use to distribute income or profit to someone whos in the lower tax bracket to pay less taxes. It just like running a company.if you sell the businesses you sell the goodwill and asset of the bussiness.A family trust dosent suit professionals like doctors and lawyer as they denied to distribute income to family members
2026-07-20 11:13:48
2
SIN :
Not good for income distribution?
2026-07-15 08:11:41
2
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