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Articles
CONDUCTING A
DISCRETIONARY
TRUST
A discretionary trust is not a
separate legal entity in the same way as an individual or a
company, rather it is a relationship which exists whereby a
person (Trustee) is compelled to hold property for the benefit
of others (Beneficiaries).
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CONDUCTING A UNIT TRUST
A Unit Trust is not a separate legal entity in the same way as
an individual or a company, rather it is a relationship which
exists whereby a person (Trustee) is compelled to hold property
for the benefit of others (Beneficiaries or Unitholders). The
relationship is formalised to the extent the units are held by
the beneficiaries and the rights attached to such units can be
structured in a similar fashion as shares in a company.
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CONDUCTING A HYBRID TRUST
A
trust is not a separate legal entity in the same way as an
individual or a company, rather it is a relationship which
exists whereby a person (Trustee) is compelled to hold property
for the benefit of others (Beneficiaries or Unitholders). The
relationship is formalised to the extent the units are held by
the beneficiaries and the rights attached to such units can be
structured in a similar fashion as shares in a company.
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Self managed superannuation funds
(SMSFs)
duties of trustees
Trustees of
self managed superannuation funds (SMSFs) are ultimately
responsible for the running of their fund. It is imperative that
each trustee understands the duties, responsibilities and
obligations of being a trustee. Rules exist to ensure the
protection of the assets in the fund until they are needed at
retirement. There are significant penalties imposed on trustees
who fail to perform their duties.
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ASIC Information Guide
Your Company and the Law
Read the Information Guide at ASIC ...
LOANS MADE BY PRIVATE COMPANIES
Quick
Companies constitution contains provisions which allow it to
loan money to its members under certain conditions. This
Memorandum will explain how this should be conducted, and
provide example documentation required to effect such a loan.
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