Estates, Trusts & NFPs
Estates, trusts and not-for-profits each come with their own rules, responsibilities and reporting – and each calls for a careful, experienced hand. Whether you’re an executor winding up an estate, a trustee running a family trust, or a committee member of a not-for-profit, we take care of the compliance and give you clear guidance, so you can meet your obligations with confidence.
Trusts
Trusts are a powerful and flexible way to hold assets, run a business and manage family wealth – but they come with strict rules and annual obligations that trustees can’t afford to get wrong. We look after family and unit trusts of all kinds.
Each year we prepare the trust’s financial statements, tax return and distribution calculations, and help trustees make and document their distribution resolutions before 30 June – a step that’s easy to miss but critical to get right. We keep you compliant and on time, every year.
Beyond compliance, we advise on how to use your trust effectively – distributing income tax-effectively across beneficiaries, meeting your obligations, and making sure the structure still suits your circumstances as they change.
Deceased estates
Losing someone is hard enough without also having to navigate their tax and financial affairs. We support executors and families through the process with genuine care and sensitivity, taking the technical burden off your shoulders at a difficult time.
We prepare the date-of-death individual tax return and any subsequent estate tax returns, work out the tax position of the estate, and make sure income earned during administration is handled correctly. We’ll also liaise with the estate’s lawyers to keep everything moving in the right order.
Our goal is to make an unfamiliar and emotional process as smooth and clear as possible – so you can focus on what matters, knowing the estate’s obligations are being met properly and on time.
Not-for-profits
Not-for-profit organisations do important work, often with limited resources and volunteers wearing many hats. We help take the financial and compliance load off your committee, so you can focus on your purpose rather than the paperwork.
We prepare your financial statements and reporting, and help you meet the obligations that come with ACNC registration, DGR status and income tax exemptions. Whether you need a full audit, a review, or simply well-prepared accounts for your members, we’ll tailor it to your size and needs.
We can also help with grant acquittals, GST and other concessions, and give your treasurer and committee clear, jargon-free numbers to work with. Good governance starts with good financials – and that’s where we come in.
Client Checklist
Coming to see our team? So you can prepare, think about which of the following documents would help our team complete your work and bring them with you!
Trust
Set-up documents (new clients)
● Trust deed and any amendments or variations
● Details of the trustee(s) and beneficiaries
● Prior year financial statements and tax return
Financial records
● Trust bank and loan statements for the full financial year
● Access to your accounting software file (Xero, MYOB, QuickBooks), if used
● Records of all income – business, rent, interest, dividends, distributions received and capital gains
● Records of all expenses
● Details of assets bought or sold during the year, with contracts and invoices
● Details of any loans to or from the trust
Distributions
● Trustee resolution or minutes for the distribution of income (or let us prepare this before 30 June)
● Details of distributions made to each beneficiary
Not-for-profit
Set-up documents (new clients)
● Constitution or rules of the organisation
● Details of your ACNC registration and any ATO endorsements (DGR, income tax exemption)
● Prior year financial statements and any audit or review reports
Financial records
● Bank statements for the full financial year
● Access to your accounting software file or cashbook
● Records of all income – grants, donations, membership fees, fundraising and trading income
● Records of all expenses
● Details of grants received and any acquittal requirements
● Details of assets bought or sold
Other details
● Payroll records and superannuation, if you have employees
● Minutes of committee or board meetings relevant to the financials
Not every item will apply to you - simply bring what’s relevant. If you’re unsure about anything, get in touch and we’ll help.
Book an appointment with our team!
Our team is always ready to assist you. Book a no-obligations meeting with us now using our booking portal!
Prefer to speak to us over the phone? Call us on 03 9398 4033