Income tax, CGT and entities

Trust registration and reporting obligations

Trust registration and reporting obligations are the steps a trustee must take to manage the trust's tax affairs. The trustee obtains a tax file number for the trust, registers for an ABN or GST where the trust carries on a business, lodges the annual trust tax return reporting income and distributions, and may have to lodge other reports. The ATO groups these requirements on its trusts pages, together with the risks it monitors. The trustee is personally responsible for compliance, whoever prepares the return. A practice that acts for a trust should hold the current trust deed and any changes, and confirm the requirements that apply for the year.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.