Year end trust distribution minutes

Getting your trust distributions right

Are you sure your trust distribution minutes are correct? Want a second opinion from an expert?

We provide a year-end trust distribution preparation and checking service to accountants and other administrators of discretionary and unit trusts.

We will:

  • Review your trust deed;
  • Take into account what you would like to achieve from a ‘trust law income’ and ‘tax law income’ perspective;
  • Tell you if any deed amendments are required to achieve what you are after; and
  • Then either draft, or review and amend your trust distribution minutes or resolutions.

As part of this process, we will:

  • Take into account potential differences in the definitions of trust law income and tax law income;
  • Assist with valid streaming of capital gains and franked dividends;
  • Assist with the valid distribution of concessional capital gains tax amounts;
  • Provide options with respect to default distributions; and
  • Provide wording for valid distributions of capital and other non-taxable amounts.

We charge a modest flat fee per trust for the preparation or review of the minutes or resolutions.

If we believe any amendments are required to the trust deed, we will clearly tell you why, and provide a fixed quote for this additional work.

Call us now on 1300 654 590 to take the worry and guesswork out of your year-end trust distributions.

Want to better understand the distinction between ‘trust law income’ and ‘tax law income’? Click here

What we will need to undertake the review:

  • The trust deed;
  • Any amendments to the trust deed;
  • The draft trust accounts;
  • Your draft tax calculations, (i.e. any differences between accounts and tax values);
  • Details of any capital gains (including concecssions claimed);
  • Details of any franked dividend income;
  • A list of beneficiaries and how much each is to receive, (i.e. how much of each category of income or capital distribution);
  • Who is to receive any balance or default distributions; and
  • Details of any family trust elections or interposed entity elections.

This information can be emailed to us at andrew@andreyev.com.au.

If you have any questions, please call Andrew on 1300 654 590 or 0400 832 534.

 


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Published by

Andrew

Lawyer to entrepreneurs and investors

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