Thank you for your kind words:
Lentil as Anything is a community organisation that supports disadvantaged people through training, employment, housing, food and social support. As a not-for-profit organization, we struggle to find the resources to manage our business operations and rely on the generosity of professionals such as LawLive.
We are very appreciative of the support LawLive has provided. Not only were the staff gracious when we asked for assistance, they were eager to help and
Jeremy Carmody - Lentil as Anything
- 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.
