Search results

Generally not a good idea to run a business in a trust I think. The main reason is, with a discretionary trust at least, you cannot easily transfer party of the business or bring in 'partners'. Better to have a company with the shares owned by a discretionary trust I think. On the other hand...

But is it the best way to go?

Re. Trust for purchase of assets, is it possible to claim the costs of those assets as a tax deduction when in a trust that's separate from the trading company? The trust can claim the cost/depreciation against income it receives. Could we operate as a sole traders, purchase the software...

1 - As we both do the same thing and will need to put in the same start up costs, my thinking is we purchase the software and equipment personally, one set each. That way if we part ways the asset distribution is easy and is not owned by the company? In doing this though, is there a mechanism to...