Trustee beneficiary reporting rules

This information is for trustees of closely held trusts that have trustee beneficiaries.

When lodging your trust tax return, you may need to include a trustee beneficiary (TB) statement with details of your trustee beneficiaries that are entitled to:

• a share of trust income (whether or not it is assessable)
• capital of the trust.

We use the TB statement to check:

• whether the trustee beneficiary correctly declares its share of the trust net income
• whether the net assets of the trustee beneficiary reflect the receipt of the trust capital and any non-assessable income.

Next steps:

• Do you need to make a TB statement?
• How to make a TB statement

See also:

• Trustee beneficiary non-disclosure tax