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Non Registered Trust & Business
Hello! We purchased a private trust through Mark awhile back and haven’t gotten around to getting a bank account set up as yet.
We also have a foundation we got through Peter Duff which is all set up and working well.
But i have a question…
If we are looking to get paid from an employer who is asking for an ABN & who also wants us to sign a contract… should we use the private trust or foundation to receive these earnings and should the contract be in the name of the trust/foundation or in my partners name?
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4 Replies
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There was a webinar on this today…check and see when it goes up because Mark did address these types of things in it.
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Hi Brendon, I have tried looking for the recording in the past webinar section but cannot find the one for July 4th. Would you have any idea where it might be?
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I’ve just gone hunting and I can’t find it…I found the notice of the zoom, but there’s nothing there, or anywhere! Perhaps contact admin and ask if it exits and just was missed being posted .. July 3rd was the date.
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I would take the approach of signing a contract with an employer under your business that has an ABN. Then you can have your business with an ABN pay your unregistered trust or foundation to transfer your funds out of the jurisdiction. Your unregistered trust or foundation can issue an invoice (not tax invoice) to charge the business, so your business is incurring am expense to offset the revenues received from doing business with your employer.
God bless,
Brian