discretionary trust

Understanding Discretionary Trust Distributions

Purpose of trust distributions Distributions from trusts and the taxation of those distributions is complex. This is an attempt to simplify the topic. 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 income that […]

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ATO Recent Reviews And Warnings

ATO warnings on rental properties The ATO (Australian Taxation Office) is increasing its focus on rental property deductions and is encouraging all rental owners to double-check their claims before lodging their tax return. The ATO says: It is important for all property owners to keep accurate records. This helps to ensure they declare the right

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