One of the big benefits of being a not-for-profit organisation (NFP) is the availability of tax concessions. But are you making the most of the concessions available to your organisation?
Yes. Duty of $500 is payable on the deed that establishes a family discretionary trust (and other forms of trusts).
No. It is no longer necessary to stamp a trust deed in South Australia.
The concept of a ‘bucket company’ is used to describe a company into which distributions from a discretionary trust are made to cap the tax rate on the trust’s income to the flat company rate of 30%.
Will all business owners be required to return profits from their businesses as personal services income if they are involved in the business? Will they be required to earn a ‘market wage” (whatever that is)?