Dolman Bateman & Co - Chartered Accountants

5 trust myths people keep getting wrong 🙅
There's a lot of talk about trusts right now, and honestly, a lot of it is wrong. Here are five things people mix up:
❌ "Trusts let you dodge tax"

✅ Not really. The income still gets taxed, just in the hands of whoever receives it. A trust moves income around, it doesn't make tax disappear.
❌ "The budget killed trusts"

✅ Nope. The new 30% tax is only proposed (not law) and wouldn't start before July 2028. The government also scrapped the part that worried families, all testamentary trusts (the kind set up in a will) are now safe.
❌ "Just give the money to whoever pays the least tax"

✅ Careful. If that person never actually gets the money, the ATO can undo it. They're watching this one closely.
❌ "A trust protects everything I own"

✅ Not always. Personal guarantees and who controls the trust can still leave your assets exposed.
❌ "Set it up once and forget it"

✅ Trusts need paperwork every year before 30 June, plus ongoing costs.
Know someone who needs to read this? Send it their way. And if you're not sure where your trust stands, have a chat with us before 30 June.
📍 Dolman Bateman, Chartered Accountants, Roseville
General info only, not personal advice. Proposed changes are current as at June 2026 and may change.

What actually is a trust? 🤔
You've probably heard people mention "the family trust" and wondered what they're on about. Here's the simple version.
A trust is just a way of holding things (money, property, a business) where one person looks after them for someone else's benefit.
Who's involved:

🔹 The trustee looks after everything and makes the calls

🔹 The beneficiaries are the people who can receive money from it

🔹 The appointor is the real boss, they can hire and fire the trustee
Why do people bother? A trust can protect your assets, give you flexibility in how income is shared each year, help pass things on to family, and be tax-smart when it's set up properly.
The catch? They cost money to run, need paperwork every year, and the government has proposed a new tax on family trusts from July 2028 (not law yet).
Not sure if a trust is right for you? That's exactly what we're here for. Have a chat before you set one up.
📍 Dolman Bateman, Chartered Accountants, Roseville
General info only, not personal advice. Proposed changes are current as at June 2026 and may change.

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