Trust Tax Return

Q&A: Trust Distribution to beneficiaries
Question:  I have distributions to a trust and they should fall under non-operating expenses right at the bottom. it should be as follows: Operating profi...
Sat, 16 Mar, 2024 at 9:17 PM
Net income of Trust to beneficiaries
Question: Net income of Trust doesn't go into beneficiaries distribution. Answer: Net income is not included in beneficiary distribution. Only certain ...
Tue, 12 Jul, 2022 at 9:54 AM
Non-Primary Income Amount
Question: How "Non Primary Income" calculates? Answer: Non-primary income available for distribution is  Total Non-Primary Income($9040) LE...
Tue, 26 Oct, 2021 at 11:28 AM
Foreign income from Trust to Individual
Question: How to distribute "Foreign Income" from Trust to ITR? In ITR - net non primary is showing negative Solution: Since there is ...
Sat, 6 Nov, 2021 at 3:20 PM
Trust without an ABN
Question: Is it possible to lodge a tax return through LodgeiT for a trust that does not have an ABN? The trust does not run a business so does not have or ...
Fri, 8 Jul, 2022 at 8:54 PM
Trust Losses (Carried Forward Loss) in Trust Tax Return (TRT)
Find the losses section at the "Net Income" > "Losses" section. The question "Are you required to lodge losses schedule or c...
Tue, 7 Dec, 2021 at 1:23 PM
Maximum number of beneficiaries
Question:  What is the maximum number of beneficiaries I can add to the Trust tax return. I have a large unit trust tax return with over 500 beneficiaries a...
Tue, 8 Feb, 2022 at 10:42 AM
Figures from Imported Financials Not Related to Business
Example 1: Question: Some of the figures come through as business expenses even though they aren't businesses and the figures such as accounting fees o...
Fri, 20 Oct, 2023 at 9:44 AM
Current Liability Rule
Question: On Trust Tax Return, these three items were classified as "Current Liabilities" but being shown in section 33 as all "Current Asset...
Wed, 9 Mar, 2022 at 8:45 AM
Trust Distribution - Tax loss & Capital Gain Tax (CGT)
Question:  I'm having difficulty distributing CGT gains from a trust to beneficiary, The trust itself had a Tax loss but when I try to distribute the CG...
Fri, 13 May, 2022 at 8:23 AM