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Subiaco WA 6008
If a Trustee of a Trust fails to make a resolution to distribute the income of the Trust before the end of the financial year, the Trustee may be assessed by the Australian Taxation Office (ATO) on the Trust income at the highest marginal tax rate of 47%, rather than the intended beneficiaries being taxed at generally much lower tax rates.
Even though preparing a Trust Distribution Resolution before the end of the financial year can be quite complex, we can help you to comply with the trust taxation laws.
The steps we would need to undertake on your behalf include:
Contact us to discuss preparing your 2024 Trust Distribution Resolutions. We recommend speaking to us well before 30 June 2024 for sufficient time to implement tax saving strategies.
In the meantime, you can read more tips about how to save on tax in our recent blogs:
“Cap” tax using a “Bucket Company”
Tax Deduction Opportunities with Super
16 Ways we can help minimise your 2024 tax and grow your wealth.
We look forward to hearing from you!
