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09 May 066 Distributions to non-resident trustees

The Government will enhance the integrity of the tax system by requiring resident trustees to pay tax on distributions to non resident trustee beneficiaries. This measure will have effect from 1 July 2006.

Currently, a resident trustee is liable to pay tax on distributions to non resident individuals and companies. In these cases, the non resident is also assessed on the distribution with a credit for tax already paid by the resident trustee. These arrangements currently do not apply to distributions to non resident trustees.

The Treasurer said that this measure will ensure that trust distributions to non resident trustees are taxed in the same way as distributions to other non resident beneficiaries.

For a copy of the Treasurer's press release No 39, 9 May 2006, go here

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