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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.