ABN and GST for family trust

Hi,

Hoping you can help me? I have recently set up a family trust with a corporate as trustee. If the corporate is already registered with an ABN and for GST do you need to separately register the family trust?

Also, the family trust will be registered with a trading name. Am I right in assuming that the business name won't need a separate ABN and GST registration?

Many thanks

1. The Trust needs its own ABN. When the Trustee enters into contracts, issues invoices etc. on behalf of the trust it will be the Trusts ABN that is used.

2. The business name is just another registration. An ABN can have multiple business names.

So the full legal name will be:-

" Trustee Company Pty Limited As Trustee For Trust Name Trading as Trading Name", and its ABN will be that of the Trust.

Thank you very much for your response, it makes things a lot clearer.

One final question, can the corporate trustee issue an invoice on behalf of the trust using it's own ABN or does it need to be in the trustees name with the family trust ABN (this is prior to a business name being registered).

The latter...use either the trust name or the trustees but using the trusts ABN.

What is the best / common way of doing it if the trust doesn't have any registered business name?
For example if the trust is "XXX Pty Ltd As Trustee For YYY Trust", when the trust creates an invoice, should the invoice show "XXX" or "XXX Pty Ltd" or something else? My preference would be for "XXX" only.

Thanks.

Please advise if your answer will be the same if, instead of a trust, there is a self managed super fund. I am confused as to whether to register the trustee of the super fund or the super fund itself for GST because of what I read in "the GST Guide" by CCH para 31-210. Also, I think the ATO in GST Ruling 2000/17 says that the trustee of the trust is the entity that should be registered for GST.

Basically, if a super fund is to purchase a commercial property and wants to claim back the input tax credit on the purchase and title to the property is held in the name " Trustee Company Pty Limited As Trustee For Self Managed Super Fund", who should be registered for GST - the trustee company or the SMSF?

Thanks
gippsi

The Superfund....it's just a hell of a lot easier. The ABN website will show the link to the trustee.

Thanks, MattR for your prompt reply. It makes sense to register the super fund for GST.

gippsi

Yeah you need to register the trading entity (which would be the trust or SMSF) for an ABN + TFN + GST

If you don't want the trust name on invoices etc you can register a business name in your state and use that.

If in business and trading through a trust with a business name I would also recommend trade marking the business name as that is Australia wide an overrides any state based registrations.

People often get confused becuase a trust (or a SMSF which is a variation of a trust) doesn't have its own 'legal personality' - meaning it can't do anything on its own behalf. That is why the trustee (whether individual(s) or a company) must do every thing on behalf of the trustee - which is the entire principle of a trust.

The ATO doesn't help this confusion by issuing things as "The trustee for the XXX trust" - they mean the trust, but if you take it literally, you would think it relates to the trustee!

I hope this clarifies.

SM

I've been away & just saw your reply. Thanks, Superman!

gippsi