Hi guys
I was approached by a company to set up my own architecture company.
They will be giving me a lot of big projects to do.
I have a unit trust that has some tax credits in it, being left over from an old land I sold off a few years back. The only way to make use of the credits is to do some business with this same abn.
This unit trust is fully owned by a trustee company, and I'm the director. I used to have a business partner who owned 50% of the unit trust but he has since released his units back to me.
1)Is this a good structure to use?
2)trying to get professional indemnity insurance in the unit trust abn, or should it be "trustee for xyz unit trust "?
3)is it ok for my trustee of my other hydrid trust which owns a rental property own part of the units? Although I do not see any accounting benefits by doing that, just a thought .
Any thoughts, etc, please fell free to discuss
I was approached by a company to set up my own architecture company.
They will be giving me a lot of big projects to do.
I have a unit trust that has some tax credits in it, being left over from an old land I sold off a few years back. The only way to make use of the credits is to do some business with this same abn.
This unit trust is fully owned by a trustee company, and I'm the director. I used to have a business partner who owned 50% of the unit trust but he has since released his units back to me.
1)Is this a good structure to use?
2)trying to get professional indemnity insurance in the unit trust abn, or should it be "trustee for xyz unit trust "?
3)is it ok for my trustee of my other hydrid trust which owns a rental property own part of the units? Although I do not see any accounting benefits by doing that, just a thought .
Any thoughts, etc, please fell free to discuss