Join our investing community

Purchasing as Trustee

Discussion in 'Accounting, Tax & Legal' started by orlando, 26th Jun, 2008.

  1. orlando

    orlando New Member

    Joined:
    27th Mar, 2007
    Posts:
    4
    Location:
    Melbourne, VIC
    Hi All,

    Does anyone know if there is any legal difference between As Trustee For (ATF) and In trust For (ITF) when purchasing items as a trustee?

    The reason I ask is that I have just opened a bank account with the commbank as a corporate trustee and they use In Trust For (ITF) instead of As Trustee For (ATF) which i am more used to.

    Thanks,

    Orlando.
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    no difference

    cheers
    n