Trust Establishment costs

G'day all,

Dale, with lots of discussion about family trusts occurring here, and your very excellent Tax Battles book to further convince me of their use, only one thing escapes me. How much are the overheads for them?

do you mind sharing what an 'average' trust costs to a) establish and b) annual costs to continue.

Thanks heaps,
Luke
 
Originally posted by Luke

Dale, with lots of discussion about family trusts occurring here, and your very excellent Tax Battles book to further convince me of their use, only one thing escapes me. How much are the overheads for them?

do you mind sharing what an 'average' trust costs to a) establish and b) annual costs to continue.

Thanks heaps,
Luke
Hi Luke, and thank you for your kindness and tolerance . . .

The cost of the trust will vary depending upon who establishes one for you. We charge $1,950 which includes the trust, the trustee company, applying for an ABN & TFN, the stamp duty in the state required and the various discussions and assistance in getting this up and running for you. Other professionals will charge rates that could be lower and higher.

The ongoing costs will be a $200 fee to the government department, ASIC each year; and, a fee of anywhere between $500 and $4,000 depending upon who does the accounting for you, the standard of your record keeping, the issues involved, and the complexity of those issues.

I hope that this helps

Dale
 
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