Primarius Blog - Cars and properties in Trusts

Muriel Oliver
Case Study | 17 Nov 2021

Trusts all have a "Trustee", either one or more trustee companies and/or individuals.  This is simply because whilst a trust is a legal entity under the law it is not a legal person.  Companies are by definition "legal persons" and can contract and do anything contractually that a real live human being can do.

So at a practical level:

  1. Purchase contract for cars and real estate: must be made in the name of Trustee Company Pty Ltd (ACN XXX XXX XXX) ATF Name of Trust with your trust ABN  XX XXX XXX XXX.
    • - Note: this is for the offer and acceptance (O&A) and/or dealers contract and documents the GST/Tax claim for the business and/or investment entity if applicable.
  2. Landgate or Department of Transport (DOT): will only put Trustee Company Pty Ltd (ACN XXX XXX XXX)  on the title or car registration and that is fine, it is just their rules, but the contract must be done as per (1) above to document your intentions legally.
    • - Note: Just always direct the motor vehicle finance/dealer to us for questions and we will translate legalese into English for them!

We often talk to our clients about company cars so always contact us before acting to ensure you get the most appropriate advice for your situation.

Disclaimer: This information is general in nature, and this is a complex area of law, and you should examine your eligibility for these concessions carefully under the criteria set out in the legislation, so before acting it is important to seek professional advice related directly to you and your circumstances, contact your Primarius team leader, or email us at info@primarius.net.au if you require assistance.

 

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