What is Family Trust Australia? Importance of Family Trust
Australian family trust is the optional trust, set up to conduct a family business or hold a family’s assets. Family trust in Australia helps in tax purposes or asset protection. A discretionary trust is one of the most common small business structures in Australia. Here in this article, you will learn more about the Australian family trust and its importance. Discretionary trusts in Australia- Family Trust Australia The family trust in Australia is accepted by the family member for the advantage of the members of the family group. Australian family trust is the subject of a family trust election that will certainly provide tax advantages, provided that the discretionary passes the family control test and provides distributions of the trustee income only to the members who are inside the family group. Australian family trust assists in protecting the group assets of the family from the liabilities of 1 or more family members. The trust also provides the mechanism to pass on the fa