One poetic Australian taxpayer wrote to the ATO: 'Spring is sprung, the grass is riz, I wonder where my return iz. My "rego’s" due, my cash is nil, a cheque from you would pay the till'.
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Fact 24
Trust
A trust exists when a person or company (called a 'trustee') holds assets on behalf of others who are intended to benefit from the assets, or income from those assets. Those intended to benefit are called 'beneficiaries'.
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