Australia Law
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Answered in 3 minutes by:
1/16/2015
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,712
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
VerifiedGood Afternoon
My name is ***** ***** I am a NSW Solicitor. Thank you question, and will do my best to assist you with your question.
An accountant can advise you better on the tax implications of what you set up.
But you would set up either a company or a Trust with a company as trustee
Because you are resident in Australia you can be the director and you and the other party (foreigner) can be share holders if it is a company of beneficiaries if it is a trust.
You will also have to have a detailed agreement about what each are contributing and how you get that back and also the profit share.
He will be taxed differently on what he receives because he is a non resident but the accountant can advise you on the tax issues.
My name is ***** ***** I am a NSW Solicitor. Thank you question, and will do my best to assist you with your question.
An accountant can advise you better on the tax implications of what you set up.
But you would set up either a company or a Trust with a company as trustee
Because you are resident in Australia you can be the director and you and the other party (foreigner) can be share holders if it is a company of beneficiaries if it is a trust.
You will also have to have a detailed agreement about what each are contributing and how you get that back and also the profit share.
He will be taxed differently on what he receives because he is a non resident but the accountant can advise you on the tax issues.
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