Bare Trust Deed

Issued within 5 minutes Cost: $165
Issued within 5 minutes Cost: $165

Bare Trust Deed

A Bare Trust, also known as a Simple Trust or Nominee Trust, is a basic form of trust where the trustee holds legal title to the assets but has no discretion or control over them.

The beneficiary of a Bare Trust has the absolute right to the trust’s assets and income. This type of trust is often used to hold assets for minors or to facilitate a specific purpose, such as holding property for someone else.

Key features

  • The trustee holds legal title to the assets but must follow the beneficiary’s instructions,
  • The beneficiary has a fixed and absolute entitlement to the trust’s income and assets,
  • The trustee’s role is administrative and involves carrying out the beneficiary’s wishes,
  • Commonly used for holding assets on behalf of minors, managing specific assets, or facilitating property transactions.

Learn more

You can find more information by visiting – what is a bare trust and setup a unit trust guide.

Bare Trust Deed

Bare Trust Deed FAQs

Your Title Goes Here
What name can I call my trust?
You can call your trust anything you like, however it is good practice to make the name descriptive of what it is. For example, it is better to use ‘The Jones Family Trust’ rather than just ‘Jones’. This makes it much easier for entities that deal with your trust, so they know what it is. Also remember that this name is going to appear on bank accounts, share registers.
Should my trust have a corporate or individual trustee?

This will come down to your personal circumstances. Individual trustees are cheaper and easier to start out with, but they can make things more complicated down the track. The drawbacks of individual trustees are:

Liability – The trustee acts on behalf of the trust and manages it. If something goes wrong the individual trustee may be liable.

Clarity – The trustee is the legal owner of any property belonging to the trust. If the trustee ever gets into financial troubles it can be difficult to distinguish between assets held personally and those held for the trust.

Administration – If the trustee ever changes or dies then it can cause major headaches. The legal title of all assets would have to be changes and it can cause other administrative problems.

Using a company as trustee removes all the issues with individual trustees. Directors and shareholders in the company have the benefit of limited liability, if the sole duty of the company is to be trustee then there is clarity of asset ownership, and it is easy to change the directors of the company without changing the legal title of assets.

Do I have to pay stamp duty on my trust?

Whether or not you need to pay stamp duty depends on the jurisdiction over the trust deed. Please see the below table on how much stamp duty needs to be paid and the governing office.

Jurisdiction Office Stamp Duty Stamp Duty on counterpart Due Date
ACT ACT Revenue Office
Plaza Level, Canberra Nara Centre
Cnr London Circuit & Constitution Avenue CANBERRA CITY ACT 2600PO Box 293, CANBERRA CITY ACT 2600 (02) 6207 0028
Nil Nil N/A
NSW Office of State Revenue
Lang Centre, Cnr Hunter & Marsden Streets PARRAMATTA NSW 2150GPO Box 530, SYDNEY NSW 2001 1300 139 814 (02) 9689 6200
$500.00 $10.00 on each 3 months from date of deed
NT Territory Revenue Office
4th Floor, Cavenagh House, 38 Cavenagh Street DARWIN NT 0800GPO Box 1974, DARWIN NT 0801 1300 305 353 (08) 8999 7406
$20.00 $5.00 60 days from date of deed
QLD Office of State Revenue
Upper Plaza, 33 Charlotte Street BRISBANE QLD 4000GPO Box 2593, BRISBANE QLD 4001 1300 300 734
Nil Nil N/A
SA Revenue SA
State Administration Centre Ground Floor, 200 Victoria Square ADELAIDE SA 5000GPO Box 1353, ADELAIDE SA 5001 (08) 8226 3750
Nil Nil N/A
TAS State Revenue Office
80 Elizabeth Street HOBART TAS 7000GPO Box 1374, HOBART TAS 7001 (03) 6233 3100
$20.00 $5.00 3 months from date of deed
Vic State Revenue Office
Level 2, 121 Exhibition Street MELBOURNE VIC 3000GPO Box 1641, MELBOURNE VIC 3001 Telephone: 13 21 61
$200.00 Nil 30 days from date of deed
WA Office of State Revenue
200 St George’s Terrace PERTH WA 6845GPO Box T1600, PERTH WA 6845 (08) 9262 1100
Nil Nil N/A
What is the difference between Discretionary Trust, Unit Trust, and Bare Trust?
The key differences lie in beneficiary control, entitlement, trustee discretion, and the purposes for which each type of trust is commonly used. Discretionary Trusts provide flexibility in distributions, Unit Trusts allocate benefits based on unit holdings, and Bare Trusts grant immediate ownership to beneficiaries. The choice of trust type depends on the specific goals, beneficiaries, and assets involved in the trust arrangement.