2022 Trust Year End – Changes & Actions

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DateChanges and actions
Pre 30 June 2022 Trustee resolutions need to be in place to be able to distribute trust income for
the 2021-22 financial year to beneficiaries (at the latest).
 Ensure Tax File Numbers have been received from beneficiaries (excluding
minors, non-residents and tax-exempt entities) before appointing income to
 When making trust distributions, consider the ATO’s more stringent stance on
distributions to adult children, corporate beneficiaries, and entities with losses
1 July 2022 New arrangements come into effect for unpaid trust distributions to corporate
31 July 2022 TFN report due for any TFNs received from beneficiaries in the June 2022
31 August 2022 (on or
 Send written notice of entitlement to distributions to any beneficiaries that are
tax-exempt entities.

The material and contents provided in this article are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.