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Deregistering a public company and trust to move into private
Hi everyone,
I want to know whether it is advisable to deregister a public trustee corporation and a registered trust to move into the private realm. What are the ramifications and what do I need to do beforehand?
For some context, I set up a trust to hold some stocks with the initial intention to build a track record of its investment performance to eventually be a fund open to others to invest. Instead, a publishing house has engaged me to write newsletters for them and my public trustee company contracts with this publishing house to receive fees for my service.
I have realised since joining SE that I don’t want to be in the public realm. I can still write as a contractor with the publishing house. I want to go private.
My trustee company currently has outstanding tax liability according to the ATO despite me using A4V and money orders, which the ATO doesn’t recognise on their monthly statements of account.
I hope to hear your thoughts and suggestions on deregistering the company and trust and operating private. Or should I set up a separate unregistered trust to act as the contractor to then invoice my public entities to offset any profits earned to minimise taxes?
God bless,
Brian
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1 Reply
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If I was you I would definitely take this question to the next Q and A because you don’t want to make the wrong move within thihttps://solutionsempowerment.org/event/general-qa-december-13/s…