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.
     
    thydzik, 28th Apr, 2020
    #1
  2. Terry_w

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

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    yes if an adult resident
     
    Terry_w, 28th Apr, 2020
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  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Depends on the trust income too

    Foreign income ?
    Capital Gains could be discounted and reduce the offset
     
    Paul@PAS, 28th Apr, 2020
    #3