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trust or company

Discussion in 'General Investing Discussion' started by david00, 14th Jun, 2009.

  1. david00

    david00 New Member

    Joined:
    14th Jun, 2009
    Posts:
    2
    Location:
    mudgee nsw
    hi all
    first post here
    my question is what is the best to set up a trust fund or acompany to trade from any help or info would be greatly appreciated
    dave
     
  2. joanmc

    joanmc Well-Known Member

    Joined:
    10th May, 2009
    Posts:
    72
    Location:
    brisbane
    Hi David
    I personally trade in a company BUT I already had that set up and I don't have a job anywhere else so I can just draw wages from my company. It will depend on what you are trying to achieve I guess. Capital gain/ income? I would have a big think about why you are trading , what you are hoping to achieve and then (if you don't already have one you are comfy with) find an accountant and explain your situation and get some advice. I have found that it always pays to get good advice before you start anything!

    there are so many variables with each persons situation that it is very hard to say what anyone should do without knowing their specifics.

    Good luck and have fun
     
  3. Superman

    Superman Well-Known Member

    Joined:
    6th Nov, 2007
    Posts:
    343
    Location:
    Gold Coast, QLD
    The default advice is a discretionary trust due to the flexibility and capital gains tax advantages.

    I would only ever recommend a company in very limited circumstances, i.e. when all other beneficiaries are maxed out and you are planning on re-investing the profits in the company and accumulating.

    Once again always best to seek professional advice that takes into account the whole of your personal situation and goals.
     
  4. david00

    david00 New Member

    Joined:
    14th Jun, 2009
    Posts:
    2
    Location:
    mudgee nsw
    thanks joanmc and superman
    for your responses regarding my question, i am still unsure of which way to go so i will ask the accountant when i do my tax
    thanks again
    dave