TFN withholding for closely held trusts

About this information

The government has extended the tax file number (TFN) withholding rules to closely held trusts, including family trusts.

If you are the trustee or beneficiary of a closely held trust, this information will help you understand the operation of the TFN withholding rules for closely held trusts and how they may affect you.

The rules apply from the first income year starting on or after 1 July 2010.

There are transitional arrangements to help you to meet your TFN reporting obligations for the first income year that started on or after 1 July 2010. For more information, refer to section Transitional TFN reporting arrangements.