How to close family trust?

Hi

I have opened a family trust last year but later I decided not to use this trust at all. The trust has registered with ABN and TFN. I want to close it but do not know how to do it.

I called Business Portal and was advised that I have to closed TFN first, then they can close the ABN attached to my trust.

I have called ATO to close the TFN, they advised me that I cannot close TFN but I cano lodge tax return and select an option no longer required lodge TFN in the tax return. I downloaded the trust tax return but could not find any where in the tax return to select this option. Note that there is no online tax return for trust.

Now I am very confused. Can someone give me a direction?

 

Read the deed
Follow the deed to vest the trust (if allowable)
Distribute the property of the trust to the relevant beneficiaries.
Lodge tax return

There was a thread on here recently - last 2 weeks or so - about closing a trust.

 

Thanks Terry! I will read it tonight.

 

Nat 0660 page 2 - Question...Is this a Final Return. Use Y = Yes.
A letter to advise the trust did not trade, had no assets or income and will not proceed would also do the trick. Provided you are a authorised person, trustee etc