[4087] Resident trust beneficiaries and income from foreign trusts [new]
Title
Draft Practical Compliance Guideline
ATO compliance approach to section 99B of the Income Tax Assessment Act 1936
Purpose
This draft Practical Compliance Guideline will provide taxpayers with practical guidance about record keeping and explain when the Commissioner will apply compliance resources to review the application of section 99B of the Income Tax Assessment Act 1936 to distributions from non-resident trusts to beneficiaries.
Expected completion
Mid 2024
Comments
The draft compliance approach is currently being developed. The ATO is engaging with key professional bodies on issues that may arise from the compliance approach being developed.
Contact
Amy James-Velagic, Private Wealth
Phone: (08) 9268 5916