• 36 Proprietors' funds

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    Show at K the net proprietors' funds from the accounting records of the trust. The amount shown at item 33 Total assets, less the amount shown at item 35 Total liabilities equals the amount shown at K.

    If this amount at item 36 Proprietors' funds is negative, print L in the box at the right of the amount.

    Trusts that have adopted the Australian Equivalent to International Financial Reporting Standards to prepare their financial reports should not include the current value of amounts invested in the trust by trust beneficiaries at J item 35. Instead, the current value of amounts invested in the trust should be disclosed at K item 36, even where that value is treated as a liability of the trust in its financial reports.

    Last modified: 13 Aug 2014QC 28037