Can a trust open a brokerage account in Australia?

Yes. In Australia, a trust can open a brokerage account, but the account must be operated by the trustee on the trust’s behalf. Brokers typically require identification of the trustees, the trust deed and tax details before the account can be opened. Additionally, you will need the trust’s TFN, trustee identification and details of beneficial owners to satisfy regulatory checks.

Why would you invest through a trust?

Australians typically use trusts for investing to: 

• Separate control and benefit: trustees manage assets while beneficiaries receive distributions (subject to the deed). 

• Estate planning and continuity: assets may be easier to administer across generations versus personal holdings. 

• Tax administration flexibility: trust income is usually taxed to beneficiaries who have a legal right to it (even if they haven’t received it yet), and the trust generally lodges a tax return. 

What brokers mean by ‘a trust account’ 

A trust brokerage account is typically a non-individual account where: 

• The account is held by the trustee on behalf of the trust (often shown as “ABC Pty Ltd ATF The Smith Family Trust”). 

• Brokers record the trust’s details, the trustees and anyone considered a beneficial owner or controller for compliance purposes. 

Documents you need to open a trust account on Betashares Direct  

If you set up a trust account with Betashares Direct, you will need:  

• ABN for the trust 
• ACN for the trustee (if a corporate trustee) 
• Driver’s licence/passport details (for each individual trustee or for a corporate trustee, details from each company officer as well as any ultimate beneficial owners) 
• Digital copy of the trust deed 

Does a trust need a TFN to open a brokerage account? 

In practice, most brokers expect a trust to have its own TFN, as the trustee uses that TFN when lodging the trust’s tax return and reporting investment income. The ATO also notes that a trust is entitled to an ABN if it is carrying on as an enterprise.  

If you are setting up a trust from scratch, the Australian Business Register provides guidance on how to apply for a TFN. 

Step-by-step: how to open a trust brokerage account 

1) Confirm the trustee structure 
Is the trustee an individual (you personally) or a company (a corporate trustee)? Brokers treat these differently for ID requirements and authority. 

2) Ensure the trust deed allows investing 
Most deeds include standard trustee powers, but brokers may still ask to see the deed pages showing trustee authority and signing clauses. 

3) Prepare certification and signatories 
Many brokers and banks require trust deeds to be certified. Some also require board minutes/resolutions to be sighted, especially if using a corporate trustee. 

4) Apply with a broker, such as Betashares Direct 
Check the broker’s product disclosure statement and account types.  

5) Link funding, then set an investment process 
Consider writing a simple trustee investment policy (even a one-pager) covering contribution rules, rebalancing cadence and record-keeping procedures. It can help at tax time and when trustee roles change. 

Features available for trust brokerage accounts 

Features for trust accounts can differ between brokers. Betashares Direct, for instance, offers: 

• Accounting integrations  

• Tax reporting  

• Investment performance reporting 

• A wide range of investment options including ETFs, shares and portfolios 

• $0 brokerage  

• Other account options like individual, joint, kids, company and SMSF 

Common traps Australians run into (and how to avoid them) 

• Using the wrong name on the account: the account should reflect the trustee “as trustee for” the trust to keep records consistent. 

• Mixing personal and trust money: co-mingling funds can create admin and legal headaches. 

• Forgetting the trust tax admin: trusts commonly need to lodge a trust tax return if they derive income.  

• Not understanding who pays the tax: beneficiaries could be assessed on their share of trust net income (rules vary, and special rules may apply).  

The bottom line 

A trust can open a brokerage account in Australia, but the account must be operated by the trustee and supported by the correct trust documentation. 

Before applying, make sure your trust deed allows investing and that you have the required identification and tax details ready. This can make the account opening process much smoother.