Legal structures

[Andrew O.]

Hi all, especially tax boffins,

We are buying into property management in Australia, our share will be bought and held by a family (discretionary trust) of which the trustee will be a company. My wife and I will then be beneficiaries of that trust. This is the best setup in AU for this kind of investment.

My question is, since we will be receiving money here in the US from this investment, do we need to setup an LLC to receive the funds as an extra "layer"? Is there any legal structure that should be thought about? Or since it's already setup properly in AU things will be protected from any unfortunate occurrences where our assets may be targeted?

This may be a swing and a miss because most people on here don't have anything to do with investing within Australia. Second question, is there an ideal structure for taxation reasons? we will be paying tax in AU, and filing form 1116 for credit on tax paid, should that just be done personally?

Andrew