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  • Appendix 13: 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*

     
     

    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.

    Last modified: 13 Aug 2014QC 24223