Trading Trust Structure | Could This Be The Right Structure For You? | Business Structures Australia

Pat Mannix from Paris Financial talks about Trading Trust Structures and gives a great example of a clients situation he had come across. Could a Trading Trust Structure be the right structure for you?
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[@Chris-xu6wy]

hello thanks for the great videos, i am wondering if a new business start up would be ok for a partnership structure husband and wife? Only to get it off the ground and then change to a trading trust structure ? i would think this would be beneficial for asset protection also . thank you

[@parisfinancial]

Hi Chris, Thanks for your feedback!
Concerning your query, a Partnership is inexpensive to set up and run but terrible for Asset Protection. Should you wish to discuss this further, please contact our office at: [phone]. Cheers!

[@jerryhuang5720]

Thank you for your video. That is very helpful. A corporate trustee is a legal owner of the assets that are held by the trading trust, is that right? I am wondering who should prepare the financial statements? Do both corporate trustee (a company) and trading trust have to prepare their own financial statements respectively? What is your advice?

[@parisfinancial]

Hi Jerry,
The Trustee is the Legal Owner, however, the Trust prepare Financials and lodges tax returns NOT the Corp Trustee
Kind Regards, Pat Mannix CPA

[@Gome.o]

This wouldn't work for someone who is single with no kids though correct? What advice would you give to someone in that position (who has no intention of starting a family) ?

[@parisfinancial]

Hi Gomeo, that's correct...best start out as a sole trader. th-cam.com/video/C24jj41MASA/w-d-xo.html

[@jasperokearney2655]

Richmond supporter? 😉

[@parisfinancial]

Absolutely! :)