15 Mar 13 NTLG Trusts Sub-Group
On Thursday 7 March 2013, Ken Schurgott CTA (Schurgott Noolan Pty Ltd) and Tax Counsel Stephanie Caredes CTA attended a meeting of the Trusts Sub-Group. The following issues were discussed:
- The ATO’s 2013 education campaign concerning trustee resolutions;
- Guidance the ATO would provide in respect of various other trust matters (such as Labels 64A and 65W on the tax return, resolutions concerning streamed amounts); and
- Other compliance activity being undertaken by the ATO in respect of trusts, such as data matching income of a trust to the share of income reported by beneficiaries and a letter campaign concerning closely held trust TFN withholding.
Members who seek further information in relation to the above should contact us at Tax Policy.