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Pascali Pascalis - Oceania Dental Medical
- Unit Trusts
Unit Trusts are a form of trust recognised by law whereby a trustee (an individual or a company) will own certain assets, e.g. property or a business, it will run that business or engage others to conduct the business (managers), and it will hold its ownership of that property or business beneficially for the Unit Holders according to the number of Units that they hold.
This unit unit trust should be used where there are no more than 20 investors to collectively share through specific percentages (the number of Units issued) in the benefits of an asset by having it acquired by a trustee and held for them in those percentages. It is commonplace for the trustee of a unit trust to be a company (referred to as a corporate trustee) because this is more tax effective.
