Understanding trust distributions and its tax implications

Understanding Trust Distributions

Purpose of a trust Distributions from trusts and the taxation of those distributions are complex. That’s why we want to simplify this subject for you. The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the …

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Streaming Trust Capital Gains And Franked Distributions

This information is for trustees and beneficiaries of trusts that make capital gains or received franked distributions. Trust Capital Gains A recent statement from ATO declares: If not prevented by the trust deed, you can stream a trust’s capital gains and franked distributions to beneficiaries for tax purposes by making these beneficiaries “specifically entitled” (more …

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