About the trust schedules
Complete only one copy of the appropriate schedule.
Attach all schedules you complete to the Trust tax return 2025 unless we specify otherwise.
Lodge your return and all the required schedules by the due date.
If you lodge your tax return without all the required schedules, we may not consider it to have been lodged in the approved form.
If you don't lodge your tax return and required schedules by the due date, you may be charged a failure to lodge on time penalty.
Attribution managed investment trust (AMIT) tax schedule
Complete and lodge an AMIT tax schedule where a trust:
- was an AMIT or attribution CCIV sub-fund in an earlier income year, and
- assuming it was an AMIT or attribution CCIV sub-fund for the current income year, would have an under or over that relates to an earlier income year that the trust was previously an AMIT or attribution CCIV sub-fund.
For more information about Ceasing to be an AMIT or attribution CCIV sub-fund, see, Ceasing to be an AMIT or attribution CCIV sub-fund instructions.
Where the trustee had made a multi-class election during the time the trust was an AMIT lodge one schedule, noting that the separate class fields of the AMIT tax schedule don't need to be completed.
For help completing the schedule online, see Lodging an AMIT tax schedule.
Capital gains tax (CGT) schedule
If the trust's total 2024–25 capital gains or capital losses are greater than $10,000, you must complete a Capital gains tax (CGT) schedule 2025 and attach it to the trust tax return.
For a copy of the schedule and help on how to complete it, see Capital gains tax schedule and instructions 2025.
You may also need the:
- Capital gain or capital loss worksheet 2025 – for calculating a capital gain or capital loss for each CGT event.
- CGT summary worksheet 2025 – for calculating a net capital gain or net capital loss for the income year.
You don't need to complete a CGT schedule if the trust was a subsidiary member of a consolidated group or MEC group for the whole of the income year.
Subsidiary members of a consolidated group or MEC group with any non-membership periods during 2024-25 may also need to lodge a Capital gains tax (CGT) schedule 2025 for the non-membership periods.
For more information on reporting multiple non-membership periods during the year, see Consolidation reference manual, sheet C9-5-110.
For more information on capital gains tax, see Guide to capital gains tax 2025.
Losses schedule
You must complete a Losses schedule 2025 and attach it to the trust tax return, if one of the following applies to the trust:
- has a total of tax losses and net capital losses carried forward to later income years greater than $100,000
- is a life insurance entity and has a total of complying superannuation class tax losses and net capital losses carried forward to later income years greater than $100,000
- is a listed widely-held trust that is required to satisfy the business continuity test to be able to claim a deduction for a tax loss in 2024–25 or to apply a tax loss in a later income year or, having passed the 50% stake test, has claimed a deduction for tax losses greater than $100,000
- has an interest in a controlled foreign company (CFC) that has current year losses greater than $100,000
- has an interest in a CFC that has deducted or carried forward a loss to later income years greater than $100,000.
For help completing the schedule and a copy of the schedule, see Losses schedule and instructions 2025.
If you complete a losses schedule, transfer the totals of the amounts at part A of the losses schedule to the trust tax return at:
- item 27 Losses information – label U Tax losses carried forward to later income years and
- item 27 Losses information – label V Net capital losses carried forward to later income years.
However, if you don't need to complete a losses schedule but the trust has tax losses or net capital losses available to be carried forward to later income years, complete the information required at item 27 – label U and label V in the trust tax return as appropriate.
A subsidiary member of a consolidated group or MEC group must lodge a trust tax return for a non-membership period that includes the last day of the income year. The trust may also need to lodge a Losses schedule 2025 for the non-membership period.
If you need to complete a losses schedule for the reasons above, you may also need to complete a CGT schedule.
For more information, see Losses and Guide to capital gains tax 2025.
Trust income schedule
Complete a Trust income schedule 2025 if you are entitled to one or more distributions from trusts and attach it to your trust tax return. If you are a managed investment trust or CCIV sub-fund trust, you are exempt from this requirement.
For all other trusts, certain amounts you report in your trust income schedule you also report in your tax return at:
- item 8 – Partnerships and trusts
- item 21 – Capital gains
- item 22 – Attributed foreign income
- item 23 – Other assessable foreign source income.
For help completing the trust income schedule, who must complete it and a copy the schedule, see Trust income schedule and instructions 2025.
Non-individual PAYG payment summary schedule
Complete a Non-individual PAYG payment summary schedule 2025 if in the trust tax return you show amounts at:
- item 5 – label B Gross payments subject to foreign resident withholding (excluding capital gains)
- item 5 – label C Primary production: gross payments where ABN not quoted
- item 5 – label D Non-primary production: gross payments where ABN not quoted
- item 6 – label T Tax withheld where ABN not quoted
- item 6 – label U Credit for tax withheld - foreign resident withholding (excluding capital gains).
For a copy of the schedule, see Non-individual PAYG payment summary schedule.
Don't include in the Non-individual PAYG payment summary schedule income subject to foreign resident withholding that has been included in a distribution received from other trusts or partnerships. Show this income at item 8 Partnerships and trusts. These distributions are not included because they don't have an associated payment summary.
International dealings schedule
You must complete an International dealings schedule 2025 if you:
- answer Yes in item 22 Attributed foreign income – label S
- answer Yes in item 29 Overseas transactions at label W or O, or complete label D Interest expenses overseas or label E Royalty expenses overseas.
For help completing the schedule and a copy of the schedule, see International dealings schedule and instructions 2025.
You don't need to complete an International dealings schedule 2025 if the trust was a subsidiary member of a consolidated group or MEC group for the entire income year.
Where the trust is a member of a consolidated group or MEC group for the whole income year and the thin capitalisation or debt deduction creation rules apply, the responsibility for preparing the schedule will rest on the head company of the group.
Where a return is required because the trust has a period in the income year when it was not a member of a consolidated group or MEC group (a non-membership period), and the thin capitalisation or debt deduction creation rules apply to the trust during the non-membership period, the trust must complete an International dealings schedule 2025.
For more information on reporting multiple non-membership periods during the year, see the Consolidation reference manual, C9-5-110.
For more information on the thin capitalisation and debt deduction creation rules, see Appendix 3.
Continue to: Trust worksheets
Return to: Instructions to complete the Trust tax return 2025