About MTAS changes for beneficiaries
From 1 July 2026, your trustee will provide additional information in your distribution statement that can help you prepare your return and report your income correctly.
We're also enabling pre-fill services for trust distributions for individual taxpayers from 2026 and expanding to other entities from 2027.
By being open and providing the information we have about your tax affairs, we're making it easier for you to comply with your tax obligations and get it right the first time.
What to expect in Tax Time 2026
Distribution statement
There will be 3 new labels in your distribution statement:
- B1 Non-primary production managed investment scheme amount
- U2 Franked distribution related to investments amount
- H1 Other assessable foreign source income from a financial investment amount.
This information will help you to accurately complete the income tests question at Net financial investment loss (IT5) on their tax return.
Pre-fill for individual taxpayers
Once we've processed the trust's tax return and successfully matched the information to your records, details of your trust distribution income for your 2025–26 and later years will become available in pre-fill. This will help you if you prepare your own tax return using myTax.
The trustee should still provide you with a distribution statement relating to your share of trust income. You can use this to complete the trust distributions section in myTax when pre-fill is not yet available. You should also confirm that the details in the distribution statement match the pre-fill information in myTax.
If you use a tax agent to lodge your tax return, they'll also have pre-fill information available for your trust distribution income once it's been reported and matched to you.
Look out for messages in myTax that prompt you about potential trust distributions needing to be reported.
Coming up in Tax Time 2027
From 1 July 2027, there will be additional new labels in the distribution statement that are aimed at enhancing compliance and improving trust transparency. Key changes include:
- reporting of unpaid present entitlements for beneficiaries to enable us to identify high-risk arrangements
- reporting the rateable reduction amounts for franked distributions and capital gains, helping you to correctly report the income in your return.
Pre-fill for non-individual taxpayers
We'll begin to extend our pre-fill service offering to non-individual entities for 2026–27 and later years. Trust distribution information will be made available up-front for companies, partnerships, trusts, superannuation funds and others who are preparing their return.
The availability of pre-fill data relies upon the trust lodging the information with us and it being successfully data-matched to the relevant entity.