Tax Planning Part 2: Trust Distribution Resolutions
In Tax Planning Part 2: Trust Distribution Resolutions, Matthew McDowall – Accountant Adviser, explains the requirement for trustees who distribute income of a Discretionary/Family Trust to beneficiaries, need to complete resolutions by 30th June each year. If not completed, it could lead to a 47% tax levy on the trust profits..
NOTE: This video provides a scenario of trust distribution resolutions, and you should not take this as personal financial advice.
If you would like to understand how this may apply to your personal situation, then call MB+M on 03 5821 9177 and speak with one of our expert accountants.
Here’s the first video…
Trust Distributions Resolutions
- ATO: Statements of distribution
- EOFY – Tax Tips For SMEs and Sole Traders
- When Things Don’t Go To Plan