Issue when applying ABN and TFN for Trust

Discussion in 'Accounting & Tax' started by songffd, 29th Jul, 2011.

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  1. songffd

    songffd New Member

    Joined:
    1st Jul, 2015
    Posts:
    1
    Location:
    Melbourne, VIC
    Hi

    I'm starting my business, and as so many people suggested, i set up my business structure as below.

    ABC Pty Ltd in trust for DEF Discretionary Trust trading as XYZ.

    However, when i tried to apply the ABN and TFN for the Trust, there is question in the online application form, which really confuses me. I copied and phased below.

    If the Discretionary Trading Trust is a company or other incorporated entity, what is your Australian Company Number (ACN) or Australian Registered Body Number (ARBN)?

    How can a trust be a company???????? i thought they might ask if the trustee is a company? but there is another question later ask about the associated person/company, and ask for the position for the associated person/company, "Trustee" is the only option to tick to answer this question...

    Therefore, i'm totally confused and have no idea how to anwser the above questions... please help.
     
  2. Meggsy

    Meggsy Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    59
    Location:
    Brisbane, QLD
    The form is a one size fits all form and some of the questions are not relevant to all entities. Your trust will not have an ACN or ARBN as these are issued by ASIC to Australian companies and foreign entities registered in Australia. Just leave it blank.