07 May 12 Trustee resolutions must be made no later than 30 June
The ATO has advised that all trustees who make beneficiaries entitled to trust income by way of a resolution must do so by the end of an income year (30 June). This resolution will determine who is to be assessed on the trust's taxable income.
The ATO previously had a limited administrative practice in place, which provided an extension to certain trustees to make resolutions by 31 August. The practice was withdrawn from September 2011 as a result of the Federal Court decision in Colonial First State Investments Limited v FCT  FCA 16 (Stone J, 18 January 2011).