Trust accounting supported by disciplined governance
A trust’s tax treatment and administration depend on the terms of its deed, the decisions made by the trustee and the quality of the supporting records. We provide the accounting and tax discipline needed to ensure those elements are considered together rather than addressed only when the annual return is due.
Our team supports family, discretionary and unit trusts with annual accounts and tax returns, year-end distribution planning, trustee documentation and the management of beneficiary and related-party balances. We also coordinate with legal advisers when a deed, trustee appointment, succession matter or structural change requires legal review.
a critical date for many discretionary trust income resolutions
decisions reviewed against the trust’s governing document
resolutions, beneficiary entitlements and supporting records maintained clearly
Accounting and governance support for trustees
Establishment and Structural Changes
We advise on the accounting and tax implications and coordinate with solicitors on deeds, trustee structures and required legal documents.
Year-End Distribution Planning
Distribution options are reviewed before the relevant deadlines, taking account of the deed, beneficiary circumstances and tax consequences.
Trustee Resolutions and Records
We prepare the accounting information and supporting documentation required for trustee decisions to be made and recorded on time.
Annual Accounts and Tax Returns
Financial statements and trust tax returns are prepared with beneficiary entitlements and transactions reconciled to the underlying records.
Deed and Succession Coordination
Potential deed, vesting, control or succession issues are identified for review with an appropriately qualified legal adviser.
UPE and Division 7A Management
Unpaid present entitlements and private-company beneficiary balances are monitored, documented and addressed within the applicable tax framework.
A deed-led approach to annual trust compliance
- 01
Review
We consider the deed, trustee and appointor details, prior treatment and current accounting records.
- 02
Evaluate
Distribution options and other year-end matters are assessed before the relevant decisions are required.
- 03
Document
Trustee decisions, beneficiary entitlements and supporting accounting information are recorded clearly and on time.
- 04
Prepare and Lodge
Annual accounts and the trust tax return are completed consistently with the documented trustee decisions.
Frequently asked
Why are trust distribution decisions commonly addressed before 30 June?
For a discretionary beneficiary to be presently entitled to trust income, the trustee will generally need to make an effective resolution by 30 June. The deed may impose additional requirements, and specific rules can apply to franked distributions and capital gains, so the trust’s circumstances must be reviewed before the resolution is prepared.
How do I know whether a trust is appropriate for my circumstances?
A trust may provide commercial, succession or tax flexibility, but it also creates establishment, administration and governance responsibilities. We can assess the accounting and tax implications using your circumstances and coordinate with your solicitor on legal suitability, asset protection and deed terms.
Does an older trust deed need to be reviewed?
An older deed is not automatically ineffective, but it may contain outdated provisions, approaching vesting dates or terms that no longer reflect the family or business circumstances. We can identify accounting and tax issues for discussion and work with your legal adviser on any formal deed review or amendment.
Ensure your trust is administered with care
Speak with our team about the trust deed, current accounting position and the decisions that need to be addressed before year-end.