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01 Dec 1010 Letters issuing to trustees of closely held trusts

On 30 November 2010, the ATO sent a broadcast message to tax agents advising that as part of the transitional arrangements for tax file number (TFN) reporting, it is matching beneficiary details in the 2010 trust tax returns against ATO records and it has noticed a large number of returns lodged by tax agents with incorrect or missing beneficiary details.

The ATO says that it will soon issue a first round of letters to trustees of closely held trusts who have lodged their 2010 trust tax return and:

  • the beneficiary's TFN or other details such as name, address and date of birth could not be matched to ATO records
  • the trustee did not include a beneficiary’s TFN in the 2010 trust tax return.

The ATO says that it will send more of these letters to trustees as 2010 trust tax returns are lodged and it finds incorrect or missing beneficiary information.


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