Published on 10 May, 2021

Family Setup and Tax Return

Written by:
Thomas S Phabmixay
General Manager

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Page Contents

Trust Distribution Resolutions – Before 30 June

Trustees who distribute income of a Discretionary / Family Trust to beneficiaries should sign a resolution by 30 June 2021 for the distributions to be effective in determining who is to be assessed on the Trust’s income! If you don’t make a resolution, you could pay up to 47% tax on the Trust’s profits.