Do Your Trust Tax Return Online with a CPA
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
- rental income
- salary and wages (on an individual’s payment summary).