Tax with Max: Transferring to a corporate trustee

Transferring to a corporate trustee, Centrelink pension payments, and more.

I inquired about the costs of changing to a company trustee and my accountant estimated that it would cost approximately $1,000 to change. However there are additional costs of changing the name on shareholdings to the new trustee company, and any term deposits in the original trustee name would result in the loss of interest due to early maturity. Also there was an ongoing ASIC fee for being a company. In my case, the total cost from changing to a corporate structure to from individual trustees would have been in excess of $4,000. Is it worth it?



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