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  • Trust income and credits

    Your distribution advice or statement from the trust will show the information you need to complete your tax return.

    You should show the following on your tax return:

    • income and capital gains from a trust (including a managed fund)
    • capital gain or loss when you dispose of your managed investment trust units
    • your share of a national rental affordability scheme tax offset.

    You can also claim credits for tax:

    • paid on or withheld from trust income
    • withheld from fund payments from a managed investment trust
    • withheld from trust income subject to foreign resident withholding
    • withheld from trust income subject to non-resident withholding tax, if you were in fact a resident.

    And you can claim a deduction for:

    • an interest in a trust that made a loss from primary production activities.

    Amounts in your trust distribution described as being tax-free, tax-deferred or tax-exempted, or as a capital gains tax (CGT) concession, are likely to be non-assessable payments that you do not have to declare as income. However, they may be relevant in determining the amount of a net capital gain or may affect the cost base of your unit or trust interest.

    See also:

    Last modified: 09 Jun 2015QC 22816