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Trust distributions in practice paper

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Published on 20 Mar 13 by QUEENSLAND DIVISION, THE TAX INSTITUTE

Trust Distributions – clients will not make your life easier when preparing them, but there are general rules that will:

  • when do you 'resolve', when do you 'minute' and why does it matter?
  • my client will make a capital gain so when do you think about what the trust deed says and can you use the 'precedent' resolution giving the 'net income' to dad, mum and the kids? 
  • practical tips and pitfalls for streaming capital gains and franked income.
  • should you use percentages, figures or a mixture and how do you account for discrepancies and amendments?
  • getting the accounting right – you will be surprised how important it is.

Author profile

Stephen Holmes CTA
Photo of author, Stephen HOLMES Stephen Holmes, CTA is a Partner with WMS Chartered Accountants based on the Gold Coast. He has been practicing as an accountant since 1987 and has had a focus on tax since 1994. He specialises in all SME tax matters with a particular interest in the CGT small business concessions, tax effective restructures and Division 7A. Since 2011, Stephen has been a senior tax and superannuation trainer with CAANZ and has been instrumental in establishing dedicated tax training communities on both the Gold Coast and in Lismore for Northern NSW practitioners. He is passionate about tax education and assistance for regional accountants. He is also a regular speaker for other professional bodies including the Tax Institute. Stephen holds separate Masters degrees in both Taxation and Economics as well as a Bachelor of Business. More recently, he was awarded a Juris Doctor degree with first class honours from Bond University. - Current at 30 January 2025
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Division 7A and UPE issues

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Trust distributions in practice

Author(s):  Stephen HOLMES

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