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SMSF Tax/Audit Costs, page-55

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aimone

48,162 Posts.

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20/08/14

13:24

Post #: 13845159
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Originally posted by cafa ↑

Enn, a Corp Trustee has a place. For single folks and for folks like you, and I'm sure a few others. As you know there is the one off costs to set it all up, and I'm sure accountants have some extra work to ensure compliance of the additional trust structure. They would be negligent if they didn't check it every year. How much that costs I have no idea but generally you will pay something even if you don't see the breakdown, IMO.

I'm not sure this is a worthwhile structure for many couples in SMSF. But each to heir own. No right and no wrong.

My wife, as would be the case in many SMSFs, is the other trustee so no problem getting signatures. I understand that upon the death of either of us we have some fancy footwork to get another trustee or a Corp Trustee at that point.

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a corporate trustee is a licence to do virtually anything you want,

as long a it is not too criminal!
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