Trust distributions in practice paper

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

Stephen Holmes, CTA, is a Partner with WMS Chartered Accountants based on the Gold Coast. 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. 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. - Current at 01 June 2026

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