If the trustee of a discretionary trust has made a Family Trust Election then the trustee will need to pay Family Trust Distributions Tax if...
I have written about the need for Family Trust Elections to be made here Tax Tip 255: What is a Family Trust election? Tax Tip 255:...
Death can make trustee resolutions impossible, and this can result in the trust income being taxed at the top marginal tax rates. Example...
In ‘Tax Tip 325: Trusts Can Negative Gear’ I showed that trusts can negative gear, just like any other taxpayer can. I also mentioned that it...
A comment that I hear often is that ‘trusts cannot negative gear’. This is not correct. Trusts can negative gear and so can SMSFs and companies...
There are a number of differences between companies and trust. I have made a list of 3 of the major differences in the tax area below: a)...
I am often asked what the tax rate for trusts is. It is generally nil as the trust, although a tax entity, will not retain any income on which it...
The trustee of a discretionary trust might make an individual beneficiary presently entitled to a capital gain of the trust. This individual...
Many seem to be confused about trusts using their income to reduce debt and how this relates to tax. Example The Simpson family Trust receives...
The trustee of a trust generally must make one or more beneficiaries presently entitled to income of the trust prior to 30 June each year. This is...
A Family Trust Election is an election made by the trustee of a discretionary trust to make that trust into a ‘family trust’ for tax purposes....
Tax Tip 191: Tax on Trust Income not Distributed/Retained Where a trust has income and no one is presently entitled to it, the trustee of the...
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