What is an accountant letter? Banks have few options to verify your income when you ask for credit. Employees typically use pay slips, PAYG summaries (now : Income statements), and tax returns, which cannot be falsified in most cases (as you are not in control of the information recorded on your pay slips, someone else…
Property Trust setups: Trusts were once only used by the wealthy, but in recent years, many Australians from all walks of life have begun to use them to hold their assets. Because of the tax benefits, asset protection, and estate planning advantages that trusts provide, they are becoming a more common ownership structure for Australian…
The following is a general outline of the Hybrid trust: A hybrid trust setup combines the features of a unit trust with those of a discretionary trust. Since the underlying trust is a unit trust, any distributions will be issued in accordance with the members’ fixed unit holdings. A discretionary payment is a unique type…
The purpose of audit Auditing provides third-party assurance to various stakeholders that the subject matter is free from material misstatement. The purpose of an audit for Owners Corporation is to provide an independent and reasonable assurance that the Owners Corporation’s financial statements are true and fair and do not have a material misstatement. Difference between…
