Australia's largest stock trading and investment forum Australia's #1 stock forum

Is it compulsory to use an accountant for Trusts?

First 10 Last

Share
Profile

Follow
bevter

26,651 Posts.

1331

29/01/18

23:06

Post #: 30646384
Share

Originally posted by The outvestor ↑

The main cost would be accounting fees. That can range depending on what city you live and the type of accountant you go to. In terms of set-up, there a few options to choose from. You could buy a standard trust deed online (type into google and see hundreds of providers) for about 160 or you get a lawyer/accountant to do it for anywhere from 300-800. In terms of difference, I would say your online trust deed is a very bare bones one size fits all deed. A lawyer would probably argue that for the extra price you are getting a legal document that will stand up better in case of disputes DYOR on what is right for your situation. Ongoing accounting fees can range, a small accounting firm will probably charge 3k a year to prepare financial statements and a tax return for you. Maybe half that if it is a small trust with little to no activity. So with that being said, the question then becomes am I making enough to even save 3k in tax. For the average punter probably not.

Expand

Is it compulsory to use an accountant for Trusts?
Upvote

Reply

Top Stories

RCE

Recce locks in $30M to boost commercialisation across ASEAN region

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

ASX Market Close: Bourse spins in circles as Israel-Iran conflict weighs | June 17, 2025

MEM

Many are concerned about global falling birthrates. This diverse stock has solutions

VBX Ltd jumps 15% on ASX debut as newest Oz bauxite player

First 10 Last

SPONSORED BY