If you have a Family Trust (also known as a Discretionary Trust) you likely need to distribute the income of a Trust through a resolution to beneficiaries, and must do so BEFORE the end of the financial year (June 30) for the resolution to be effective in determining who is to be assessed on the Trust’s income.

If a Trustee fails to make a resolution to appoint the income of the Trust before the end of the financial year, the Trustee may be assessed by the ATO on the Trust income at the highest marginal tax rate of 49% rather than the rate applicable to the intended beneficiary(s).

We can help you determine how best to distribute trust income, and prepare the necessary resolutions to SAVE YOU TAX!

Contact us today on (07) 4922 6128

Business Wise
The team at Business Wise don't just do bookkeeping and accounting - we believe that successful businesses are those that are informed, proactive and open to change, and we want to help you on your journey to success.