Trust Accounting

Trust Accounting

A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience with trusts enables us to offer specialist advice on trust formation and ensures all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in trust administration can prove invaluable. We can assist with:

• Preparing and executing the vital documentation required for trust formation
• Attending to the special requirements involved in reporting for trusts
• Completing the trust administration:

• Minute-keeping service
• Annual accounts
• Taxation
• Asset management
• Investment monitoring
• Income distribution

Charitable Trusts

Charitable trusts are set up to hold money or assets and carry out activities for the benefit of the community. Five main types of charitable trusts exist in Australia:

• Australian charitable trust
• General charitable trust

• Prescribed charitable trust
• Deductible gift recipient
• Prescribed private fund

Each type of charitable trust brings with it different requirements and benefits. At Singla Singla & Co, we know the practicalities of the charitable trusts and so are able to assist you by:

• Preparing the trust deed
• Applying to the ATO for an ABN
• Organising tax exemptions where applicable