Online Trust Tax Returns

If you operate your business through a trust:

• the trustee lodges a trust tax return
• each trust beneficiary lodges their own tax return, such as a company or individual tax return.

The trust reports its net income or loss. This is the trust’s assessable income less deductions.

If you are the beneficiary of a trust, you report on your tax return:

• any income you receive from the trust
• any other assessable income such as
  • dividends
  • rental income
  • salary and wages (on an individual’s payment summary).