Contact us for a free initial consultation - (08) 8911 0969
Contact us for a free initial consultation - (08) 8911 0969
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Effective testamentary trust management services in Perth for tax optimisation and compliance of deceased estates.
A testamentary trust is a form of investment trust established in a will. Under a testamentary trust, individuals can plan for the secure distribution of estate assets to intended beneficiaries. The primary benefit of a testamentary trust is the protection and tax optimisation of assets of the deceased estate.
Assets in a testamentary trust are protected — in the event of bankruptcy or legal separation, the assets will not be available to creditors or divorcees, allowing them to be distributed to beneficiaries.
Testamentary trusts also provide significant tax benefits by providing income tax concessions for minors. The profits earned by assets in a testamentary trust that is distributed to the children of the deceased will be exempted from the higher tax rate, allowing more of the earnings to be transferred to the children.
As an investment vehicle, a testamentary trust is subject to various taxes such as income tax, capital gains tax, and stamp duty. Tax planning for testamentary trusts helps individuals understand the concessions that apply to enjoy greater tax savings for beneficiaries and reliably allocate profits.
MKM Accountants’ expertise in the management of testamentary trusts in Perth helps simplify the process of optimising tax profile, allowing individuals to plan confidently for the future while remaining compliant with ATO regulations. With years of experience, our accountants can develop the right tax strategy to reduce ongoing and future costs for the testamentary trust.
We are chartered accountants recognised through our membership to Chartered Accountants Australia and New Zealand (CA ANZ). As registered Chartered Accountants, we are “Difference Makers” with a complete range of skills and expertise that goes beyond basic accounting certification.
Our work across multiple accounts has afforded us Xero Bronze Partner status, which entitles us to all of the software and support given to Xero partners. Our Xero Bronze Partner status provides our clients with enhanced support and access on the accounts that we manage.
Our Xero Certified Advisor status means that we are certified to provide accounting and bookkeeping services on the Xero platform for our clients. Gaining and maintaining certification reflects our expertise on the Xero platform and ensures we deliver the best service to our clientele.
We are Tax Practitioners Board Registered. This certification shows that MKM Accountants are members of the independent regulatory board in Australia that is responsible for registering and regulating all tax agents and Business Activity Statement (BAS) agents.
Phone Number: (08) 8911 0969
Email: admin@mkmaccountants.com.au
Perth, Western Australia, Australia
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