In Australia, there are a number of types of directors, known by a variety of names, and while all directors generally have the same duties and responsibilities regardless of their title, there are some subtle differences that exist. One such example is a nominee director – who is someone who...
Category: Business Structuring
What is Single Touch Payroll? New updates for 2022
While the thought of doing more reporting to the ATO might seem rather annoying, Single Touch Payroll - introduced by the Australian government in 2018 to encourage small businesses to be more compliant in the way they report superannuation or PAYG instalments to employees - is a good initiative in...
How to Set Up a Family Trust
Setting up a family trust is a great way to optimise your tax position and share assets and distributions with family members. In saying that, it is important that you get the right advice before setting up your family trust. We'll break down the benefits of family trusts and how...
What is a Hybrid Trust?
Most people when they think of trusts think about the terms "trust funds" or "family trusts". In Australia, there are 3 common types of trusts, these are discretionary, unit and hybrid trusts. In this article, we'll be answering the question - what is a Hybrid Trust?To start with the basics,...
What is a Unit Trust?
Trusts are a valuable tool that can protect assets and make things more tax efficient. This is especially so of unit trusts here in Australia; however, they can be complex to set up correctly. In this article we take a look at what is a unit trust, as well as...