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It's the other way around. The Pty Ltd is the Corporate Trustee for the Family Trust. Most likely you are Directors of the Trustee but you are not the Trustee if you have a corporate Trustee for the Trust

Yes and No. It can negative gear it's Trust income NOT your personal income. There is one type of Trust where you can negative gear your personal income but it's not very common. I'm trying to remember it's name. ummmm darn it sorry - but it's not a discretionary trust.

My understanding is that the Trust claims the depreciation and can use it to reduce it's income.