Compliance with the single acquirable asset rules are essential with LRBAs.
This means that in some cases, multiple bare / holding trusts will be required.
Pricing for multiple bare trusts is as follows:
- $495 + $220 = $715
- $495 + $220 + $110 = $825
- $495 + $220 + $ 110 + $55 = $880
- $55 per subsequent one
For example with 10 bare trusts it would be $880 + 6 x $55 = $1,210
Multiple bare trust would be needed in the following situations:
- Purchase of strata titled units where each unit was on a separate legal title
- Purchase of a number of different shares (i.e. BHP + ANZ + XRO etc)
When it comes to property as the single acquirable asset, in general the same trustee company can be used for all bare trusts. It is recommended that you check the land tax requirements in the State or Territory to ensure that land tax thresholds apply at the trust level, not the trustee level (most do).
The price for a company to act as trustee of one or more bare trusts is $715.
You can order a bare trust on our website here: New Bare Trust Order Form