REMINDER: Complete and lodge your Trustee Distribution Resolutions by 30 June to avoid 47% tax

Do you have a Discretionary Trust (also known as a Family Trust)?

Then, you need to complete your Trust Distribution Resolution(s) before 30 June. Otherwise, you may be paying additional tax(es) of up to 47%.

Failure to complete, or resolve, these matters before the 30 June deadline could mean that the necessary actions and outcomes are unable to be applied and executed as intended, potentially affecting the proposed tax benefit, as well as impacting tax compliance obligations.

Please consult your financial advisors and/or the Australian Taxation Office for further information/clarification.

PUBLISHED: 17 JUNE 2024