Our tax professionals are experts at setting up and managing trusts. We can help you understand all your tax liabilities associated with managing a trust and its beneficiaries.

Managing and setting up a trust can be complex. Formal deeds are required and there is administrative work that must be done each year.

Because the trust deed outlines how the trust will operate, it is important to get professional advice. We can advise you on the best way to manage your trust to minimize your tax liabilities.

If managed correctly, trusts can help reduce higher tax rates by distributing the income to the beneficiaries who often are on a much lower, individual tax rate. We can help you set up a Tax File Number for lodging an annual tax return, an ABN for the trust and register it for GST if the annual turnover is more than $75,000, or more than $150,000 for non-profit organizations.
What you need

So we can make the most of your tax appointment, you will need to bring a few documents and receipts with you.


- The names of the new, continuing and retiring beneficiaries
- The TFN or address and date of birth of all beneficiaries
    Details of the changes if the persons authorized to act on behalf of the organization have changed
- The date of dissolution (if applicable)
- The date of the reconstitution (if applicable)
- Variation of business agreement: Keep a copy of any variation to the business agreement for the life of the partnership plus five years.
- Business records including: books of account (with accounts for each beneficiaries’s capital contribution, drawings and share of profit or loss), minutes of business meetings, memorandum of decisions reached, especially regarding shares of income and losses.


- A list of work-related expenses (with receipts). This includes business motor vehicle logs
- Receipts of charitable donations
- Interest and fees on investment loans
- Donations to charities (unless you get a ticket to win something in return, those ones don’t count)
- School building levies and library funds
- Fee charged for previous year’s tax return
- Income protection insurance
- Sickness and accident insurance