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Hi Terry, Put it simply. I will collecting rent on this account, and I would like to transfer this amount out, to offset my loan. And ideally I would like to transfer this amount on a monthly basis I am not aiming to put more money into this account

Now that I finally have setup my trust account, also waiting to hear back from accountant to setup my ABN, TFN and GST In terms of treating this trust account, I will have rent coming in, and also mortgage repayments going out Now, do I just try this account as any other account? transfer in...

Hi terry, If I use a tax agent to apply for ABN, TFN and GST, the applciation fee is tax deductible?

terry, you advise earlier that I can walk into a branch with my trust deed and setup a trust account, and now I should not trust them? Should I get Mike to help me setup a trust account as well?

I will bring my copy of trust deed into the bank, and setup a trust bank account I am sure that the bank will know which title it should go under As for setting up ABN TFN and GST, I will have House Of Wealth Mike to help me in this regard, furthermore, I will need his expert advice on tax...

Hi Terry, I have Corporate Trustee & Discretionary Family Trust, Therefore, I have a XXX PTY LTD as the trustee for XXX family trust Based on this, would it be XXX PTY LTD applying for the trust account, ABN and TFN?

This is for ABN? https://abr.gov.au/ This is for tax file? https://www.ato.gov.au/ Terry, is it XXX PTY LTD applying for it? As you know XXX PTY LTD is the trustee for XXX family trust

Another dumb question, I have xxx PTY LTD, as the trustee for XXX Family trust Clearly, it is XXX PTY LTD that is applying for the trust account, ABN and TFN?

Hi Paul, I have been advised by you guys here not to apply for ABN and TFN myself, and use an accountant instead https://abr.gov.au/ Is this the link to apply for ABN and TFN?

Thanks Terry, will do that to open an account Other than ABN and tax file for my trust, anything else I would need at this stage? As you mentioned before, these 2 should be done via an accountant, right

Hi Guys, I am urgently in need of setting up a Trust bank account, ABN and tax file for my trust. Firstly, for the bank account, is this something that I can do myself directly with a bank? I understand that ABN and tax file should be done through an accountant, I am still waiting to...