Trust Accounting

Protect your business and family assets, minimise your tax and guard your wealth.

Book and appointment with an
ITP Trust Tax Accountant

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Getting your trust accounting and tax done right will protect your assets.

Setting up the right kind of trust is a beneficial tool to protect business and family assets, managing income and planning for your financial future. Properly configured, a trust will allow distribution of income, taxes to be minimised and managed and a solid structure to maximise long-term wealth protection.

Managing and setting up a trust can be complex. Formal deeds are required and there is administrative work that must be done each year.

Because the trust deed outlines how the trust will operate, it is important to get professional advice. We can advise you on the best way to manage your trust to minimise your tax liabilities.

If managed correctly, trusts can help reduce higher tax rates by distributing the income to the beneficiaries who often are on a much lower, individual tax rate. We can help you set up a Tax File Number for lodging an annual tax return, an ABN for the trust and register it for GST if the annual turnover 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 separations
  • Reduce taxes through income distribution and lower tax rates
  • Ensure assets are passed to future generations
  • Protect your assets against legal action and bankruptcy

ITP Tax Accountants will help choose the right trust structure for your business or family and future proof it against taxes and other costs. Choosing the right trust structure depends on numerous factors.

Our Services

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Tax Accounting

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.

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Bookkeeping

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.

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Assistance

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.

Start Today

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.