Trust Distribution Resources

If you have a discretionary family trust, the weeks leading up to the 30th of June each year are critical for you. This is because every income year, the trustee of a discretionary trust must exercise its discretion to distribute its trust law income (as it is defined in the deed) among the trust’s eligible beneficiaries.  These decisions are recorded in the trust’s distribution minutes which must be signed before 30 June each income year.

The legal concepts around distributing trust law income are not simple – we don’t pretend they are. However, it is very important to get the wording of your trust distribution minutes right, as there are several ‘tax traps’ that can spring up if these distribution minutes do not use certain specific words.

We’re here to help!

We know that getting your trust distribution minutes right can be a headache. To help, we have compiled a series of useful articles and links below that will help you optimise your trust distribution minutes and assist you in getting them right the first time, every time.

Click the links below to read more about these concepts:

And if you are ready to dive into the deep end, our Trust Distributions Guide is a practical booklet that walks you through the difference between ‘trust law income’ and ‘tax law income’, and how to make trust distributions at year end.

What is the next step?

If you find all of this information overwhelming, and you just want us to sort your trust distribution minutes out for you, then call us now on 1300 654 590 or email us and speak with one of our experienced and friendly lawyers.

 

The information contained in this post is current at the date of editing – 19 July 2023.

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