QBCC Trusts and Trustee Company

Q - Does a trust need to submit a trustee company GPFR as well as the trust, even if it has $10 (any amount) net assets?

A - For annual reporting purposes, it is only the trust that reports (as it is the trading entity).  

A - For MFR, yes, two sets of financial statements in GPFR AASB format are required for this structure, one for the trust and one for the trustee company.

The trustee needs to provide financial statements as the licensee/applicant, and QBCC does not have the ability to waive this requirement.