NSW How to Leave Company Trust?

[Bethany Osmen]

Going through some legal situations with work and I no longer want to be a part of their trust. What is the process for leaving a trust?

I have no paperwork regarding the trust, I can't even say what kind it is. From what I gather it is used to 'distribute' profits - without any actual profits being distributed.

I signed something years ago and now have to process my tax return through the company's accountant firm.

Help

 

[Victoria S]

Are you just a beneficiary under the trust? I am guessing it may be a discretionary trust - which would enable the trustee to apportion profits in such a way as to minimise the tax paid by the business. In that case you could simply write to them and ask to be removed as a beneficiary of the trust. As long as its not some requirement or condition of your employment that you be a beneficiary then I doubt it would be a problem.