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Appendix 13: Trust assessment codes

Last updated 11 February 2019

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, 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**

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*

 
 

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.

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 12 for more information.

QC22968