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Trusts & Resolutions

A reminder that trusts require trustee resolutions relating to distributions to be made by the end of the income year. Please note that this requirement has been a strong focus point by the ATO recently. This resolution will determine who is to be assessed on the trust’s taxable income.

Please see the article on Tax Planning in this newsletter as this is often tied in with trust distribution resolutions, as the tax planning done will help determine the optimal distribution resolution in order to ensure the best tax outcome for the beneficiaries of the trust.

Lastly whenever you make a resolution to distribute your trust’s income always ensure it is made in accordance with the terms of the trust deed.

If you require any assistance or would like to meet to discuss trust resolutions please contact our office.

We greatly value our clients and are committed to honouring the trust they place in us by creating visible results for them. Get in touch to find out how we can help our clients maximise profits, minimise tax, and invest the balance for growth.

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