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Trustee beneficiary reporting rules

Check if a closely held trust is required to include a trustee beneficiary statement in their trust tax return.

Last updated 14 November 2019

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.

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