Trusts can be useful structures, but their taxation and reporting can be more complicated than those of a simple individual or sole trader.
A trust may earn income from investments, property or business activities and may distribute income to beneficiaries.
The tax treatment depends on the trust and its circumstances.
Who Is This Service For?
Our services may assist:
family trusts
discretionary trusts
unit trusts
investment trusts
property trusts
business trusts
trustees requiring taxation and financial reporting support.
How SKC Accounting Can Help
Depending on the circumstances, this may include:
reviewing trust accounting records
preparing financial statements
calculating trust income
preparing the Trust Tax Return
beneficiary distribution reporting
reviewing relevant deductions
ATO correspondence where required
explaining trust taxation matters
identifying matters that may require further advice.
Why Planning Ahead Matters
Trust taxation can involve important timing and documentation requirements.
For that reason, trustees should avoid leaving every decision until the tax return is being prepared.
Where necessary, matters should be discussed before year-end and appropriate legal or specialist advice obtained where required.
Common Questions
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Does the trust itself always pay tax?
Not necessarily. The taxation outcome depends on the trust's circumstances and how income is dealt with.
Can you help with trust distributions?
We can assist with the accounting and taxation aspects within our service scope. Certain trust deed, legal or complex taxation matters may require specialist advice.
Trust Clients Often Also Need
Continue Learning
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What Should I Give My Accountant at the End of the Financial Year?
How Can I Make Year-End Tax and Financial Statement Preparation Less Painful?
Service Delivery Disclosure
SKC Accounting Financial & Advisory Services Pty Ltd trading as SKC Accounting is a licensee of Platinum Accounting Australia Pty Ltd (Platinum). Platinum is a Registered Tax Agent (Tax Agent No. 24683431). Tax agent services, including the preparation, review and lodgement of tax returns, and BAS/GST services requiring registered-agent authority, are provided through Platinum under the applicable engagement arrangements. For more information, please visit Platinum Accounting Australia.
Let’s Talk About Your Business
A useful first conversation starts with what your business does, what is creating pressure and what you would like to improve. Book a Complimentary Initial Consultation to discuss the support that may suit your circumstances.