UNIT TRUST

Disclaimer:

NORFOLK CORPORATE SUPPORT is not a legal advisor. It is strongly recommended that you seek competent and qualified advice from a legal adviser or Financial Advisor and Accountant before ordering any Trust structures.

All Trusts supplied by NORFOLK CORPORATE SUPPORT (NCS) are prepared by a qualified Solicitor.

Setting up a Unit Trust:

A Unit trust creates obligations which are imposed upon a trustee, usually a company which owns a jointly owned asset such as a business, for the benefit of the persons and companies which are named as the beneficiaries of the Trust. The beneficiaries hold their interest in the trust as fixed entitlements similar to ownership in shares in a company.

The Unit Trust commences when the Unit Holders subscribing or paying the trustees for their units, usually $1.00 per unit. The unique element of a unit trust is that the entitlements are fixed as between the unit holders and so the trustee has no discretion as between unit holders to which beneficiary is to receive the profit distributions. Therefore any distribution to unit holders is in proportion to the number of units held.

The Trustee may be either a natural person or persons or a proprietary limited company.

Stamp Duty on Establishment of Trust:

Stamp Duty varies from State to State in Australia from $20 to $200AUD. Please contact our office for up to date fees in each State at the time of ordering. (In Victoria $200 is the current cost)

Order Unit Trust