(we are in Australia) We are applying for a home loan and have provisional loan acceptance from a bank depending on a letter from an accountant verifying our trust details. I do my own taxes and do not have an accountant. The trust I setup is simple, it is a non company trust (with trust deeds) and has it's own bank account. The trust was setup by a company that specialises in setup of trusts and companies. I am the executor and beneficiary. I work as a doctor and part of my income is from a large health company that will only deal with trusts - which is the only reason I have it. The income earned via the trust is 100% personal services income and is transferred into total to my own account where I will declare as taxable income. No money is retained by the trust and the trust has no liabilities or other transactions. I invoice my client monthy and the trust has been active since last year, there are about only 7 transactions in the trust. I can supply trust deeds, bank account statements (of my trust and my personal account), and invoice confirmation statements from my client. The trust is expected to earn less than $75k and does not collect GST. I need a letter on letterhead with a signature stating that the trust is trading profitably and meeting its commitments based on the the information supplied.
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