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46 Unpaid present entitlement to a private company

Last updated 11 February 2019

Show at Y any amounts of the income of the trust from this year or a previous year of income to which a private company is entitled, and that remain unpaid by the lodgment day. If the amount is greater than zero, print D in the CODE box at the right of Y where, during the income year, the trustee of the trust estate:

  • made a payment that is attributable to an unrealised gain that discharged or reduced a present entitlement
  • made a loan
  • forgave a debt

in favour of a shareholder (or an associate of a shareholder) of a private company with the unpaid present entitlement. Print X in the CODE box at the right of Y if none of the above transactions took place.

Lodgment day

The lodgment day is the earlier of the due date for lodgment and date of lodgment of the trust’s tax return for the income year in which the payment, loan or debt forgiveness occurred.