Are beneficiaries who only receive trust income eligible to low income offsets?

Discussion in 'Accounting & Tax' started by thydzik, 28th Apr, 2020.

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  1. thydzik

    thydzik Well-Known Member

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    Hello All

    I've got a question.
    If an individual is only receiving trust income, do the low and middle income tax offsets apply to that income?

    Thanks in advanced.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    yes if an adult resident
     
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  3. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Depends on the trust income too

    Foreign income ?
    Capital Gains could be discounted and reduce the offset