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  • Appendix 12: Trust assessment codes

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention
    Table 13.1

    INTER VIVOS TRUSTS, including discretionary trusts

    Assessment codes

    Resident beneficiary

    Non-resident beneficiary

    The beneficiary is presently entitled to a share of the income of the trust and is:

     
    • over 18 years of age and under a legal disability or an excepted person

     

    25*

    125*
    • a prescribed person receiving excepted income only

     

    26*

    126*
    • a prescribed person receiving eligible income only

     

    27*

    127*
    • a prescribed person receiving excepted and eligible income only

     

    28*

    128*
    • a prescribed person receiving eligible income from more than one trust

     

    29*

    129*
    • not under any legal disability

     

    30

    138*
    • a company

     

    34

    139*
    • a trustee

     

    35

    140**
    • the principal beneficiary of a special disability trust

     

    45*

    145*

    No beneficiary is presently entitled to a share of the income of the trust and is:

     
    • a resident or non-resident trust where no beneficiary is presently entitled to income

     

    36*#

     
    • a bankrupt estate

     

    37*

     
    • a resident or non-resident trust where no beneficiary is presently entitled to income and to which subsection 99A(2) of the ITAA 1936 is to be applied.

     

    37* #

     

    Deceased estate

    Assessment codes

    Resident beneficiary

    Non-resident beneficiary

    The beneficiary is presently entitled to a share of the income of the trust and is:

     
    • under a legal disability

     

    11*

    111*
    • not under a legal disability

     

    12

    118*
    • a company

     

    13

    119*
    • a trustee

     

    14

    120**

    No beneficiary is presently entitled to a share of the income of the trust and:

     
    • the deceased person died less than three years before the end of the income year

     

    15* #

     
    • the deceased person died more than three years before the end of the income year

     

    16* #

     
    • it is a non-resident trust

     

    17*

     

    * Tax assessable to the trustee

    **Codes 120 and 140 apply if the beneficiary of the trust is a non-resident trustee.

    # Use these codes, as appropriate, where the resident trustee is making a choice to be assessed to a capital gain or gains on behalf of a beneficiary or beneficiaries at item 55.

    If you have used codes 35 or 140 (inter vivos trusts) or 14 or 120 (deceased estates) you may be required to complete a TB statement, see appendix 11.

    Last modified: 12 Feb 2019QC 44346