Protect your business and family assets, minimise your tax obligations and guard your wealth.
Book and appointment with an
ITP Trust Tax Accountant
Getting your trust accounting and tax done right will protect your assets.
The right kind of trust is a beneficial tool that can help you protect business and family assets, manage income and plan for your financial future. Properly configured, a trust will facilitate the distribution of income, while managing and minimising taxes and providing a solid structure to maximise long-term wealth protection.
Setting up and managing a trust can be difficult and complex. Administrative work must be done correctly and updated each year, and legal requirements are stringent.
Professional advise is recommended when setting up the trust deed because it forms how the trust will operate. We'll advise the best way to manage your trust and minimise your tax obligations and liabilities.
Managed professionally, trusts may reduce higher tax rates to beneficiaries who are on a lower tax rate by distributing the income to all trustees. ITP Accounting Professionals can help you set up a Tax File Number for lodging an annual tax return. Your ITP accountant can also establish an ABN for the trust and register it for GST if the annual turnover for your trust is more than $75,000 or more than $150,000 for non-profit organisations.
- Better understand your personal and business risks
- Safeguard your personal and business assets
- Protect against family breakdowns, divorce and separation
- Reduce taxes through income distribution and lower tax rates
- Ensure assets are passed to future generations
- Protect your assets against legal action and bankruptcy
Choosing the best trust structure depends on numerous factors. ITP Tax Accountants will help choose the right trust structure for your business or family and future-proof it against taxes and other costs.
ITP Tax Accountants will help you with your business finances, from preparing statements, managing your tax obligations and providing valuable financial and business growth advice. Our accountants can assist with income tax returns, business performance providing you with reporting and strategy to cut costs and improve your financial position.
Business records need to be kept for 5 years. It’s imperative to make sure you’re legally compliant as well as to see your real-time cash position in order to make financial decisions. ITP Tax Accountants use the latest accounting cloud software to make sure your records are in good order. We’ll set you up or use your ongoing platform.
As a client of ITP The Income Tax Professionals, you’ll have year round support from your local consultant. We’ll help you stay organised and gear your business to make great financial decisions as well as advise ways to maximise your tax returns, as well as employ tactics for purchasing capital, depreciating equipment and assets and reducing your overall tax liability by maximising all of your claims.
Establishing the right kind of trust can save you hundreds of thousands of dollars, slash tax, protect assets and grow wealth. ITP Tax Accountants will advise which type of trust will suit your circumstances and help set up, maintain and manage your trust fund. Schedule a time to speak with your local ITP Tax Accountant.
Taking the first step is quick and easy. Simply fill out the form below and one of our ITP Trust Tax Accountants will be in touch to answer any questions you may have.