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  • Appendix 12: Trust assessment codes

    Table 12.1: Inter-vivos trusts, including discretionary trusts – Part 1

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

    Resident beneficiary assessment code

    Non-resident beneficiary assessment code

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

    25 (see Note 1)

    125 (see Note 1)

    a prescribed person receiving excepted income only

    26 (see Note 1)

    126 (see Note 1)

    a prescribed person receiving eligible income only

    27 (see Note 1)

    127 (see Note 1)

    a prescribed person receiving excepted and eligible income only

    28 (see Note 1)

    128 (see Note 1)

    a prescribed person receiving eligible income from more than one trust

    29 (see Note 1)

    129 (see Note 1)

    not under any legal disability

    30

    138 (see Note 1)

    a company (that is a base rate entity)

    34

    134 (see Note 1 and Note 4)

    a company (that is not a base rate entity)

    34

    139 (see Note 1)

    a trustee

    35

    140 (see Note 2)

    the principal beneficiary of a special disability trust

    45 (see Note 1)

    145 (see Note 1)

    Table 12.2: Inter-vivos trusts, including discretionary trusts – Part 2

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

    Resident beneficiary assessment code

    Non-resident beneficiary assessment code

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

    36 (see Note 1 and Note 3)

     

    a bankrupt estate

    37 (see Note 1)

     

    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 (see Note 1 and Note 3)

     

    Table 12.3: Deceased estate – Part 1

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

    Resident beneficiary assessment codes

    Non-resident beneficiary assessment codes

    under a legal disability

    11 (see Note 1)

    111 (see Note 1)

    not under a legal disability

    12

    118 (see Note 1)

    a company (that is not a base rate entity)

    13

    119 (see Note 1)

    a company (that is a base rate entity)

    13

    134 (see Note 1 and Note 4)

    a trustee

    14

    120 (see Note 2)

    Table 12.4: Deceased estate – Part 2

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

    Resident beneficiary assessment codes

    Non-resident beneficiary assessment codes

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

    15 (see Note 1 and Note 3)

     

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

    16 (see Note 1 and Note 3)

     

    it is a non-resident trust

    17 (see Note 1)

     

    Note 1: Tax assessable to the trustee

    Note 2: Codes 120 and 140 apply if the beneficiary of the trust is a non-resident trustee.

    Note 3: 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 56.

    Note 4: A lower company tax rate may apply in respect of beneficiary companies that are a base rate entity. For more information see Changes to company tax rate.

    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: 08 Feb 2019QC 55259