Appendix 12: Trust assessment codes

Table 12.1: Inter-vivos trusts, including discretionary trusts and testamentary trusts – Part 1
The beneficiary is presently entitled to a share of the income of the trust and is:	Resident beneficiary assessment code	Non-resident beneficiary assessment code
over 18 years of age and under a legal disability or an excepted person	25 (see Note 1)	125 (see Note 1)
a prescribed person receiving excepted income only	26 (see Note 1)	126 (see Note 1)
a prescribed person receiving eligible income only	27 (see Note 1)	127 (see Note 1)
a prescribed person receiving excepted and eligible income only	28 (see Note 1)	128 (see Note 1)
a prescribed person receiving eligible income (or eligible and excepted income) from more than one trust	29 (see Note 1)	129 (see Note 1)
not under any legal disability note a minor is not under a legal disability where the trustee has deposited an amount in an FMD in the beneficiary's name out of the eligible trust distribution	30	138 (see Note 1)
a company (that is a base rate entity)	34	134 (see Note 1 and Note 4)
a company (that is not a base rate entity)	34	139 (see Note 1)
a trustee	35	140 (see Note 2)
the principal beneficiary of a special disability trust	45 (see Note 1)	145 (see Note 1)

Table 12.2: Inter-vivos trusts, including discretionary trusts, and testamentary trust – Part 2
No beneficiary is presently entitled to a share of the income of the trust and is:	Resident beneficiary assessment code	Non-resident beneficiary assessment code
a resident or non-resident trust where no beneficiary is presently entitled to income	36 (see Note 1 and Note 3)	-
a bankrupt estate	37 (see Note 1)	-
a resident or non-resident trust where no beneficiary is presently entitled to income and to which discretion under subsection 99A(2) of the Income Tax Assessment Act 1936 (ITAA 1936) has been received	37 (see Note 1 and Note 3)	-

Table 12.3: Deceased estate – Part 1
The beneficiary is presently entitled to a share of the income of the trust and is:	Resident beneficiary assessment codes	Non-resident beneficiary assessment codes
under a legal disability	11 (see Note 1)	111 see Note 1)
not under a legal disability	12	118 (see Note 1)
a company (that is not a base rate entity)	13	119 (see Note 1)
a company (that is a base rate entity)	13	134 (see Note 1 and Note 4)
a trustee	14	120 (see Note 2)

Table 12.4: Deceased estate – Part 2
No beneficiary is presently entitled to a share of the income of the trust and:	Resident beneficiary assessment codes	Non-resident beneficiary assessment codes
the deceased person died less than 3 years before the end of the income year	15 (see Note 1 and Note 3)	-
the deceased person died more than 3 years before the end of the income year	16 (see Note 1 and Note 3)	-
it is a non-resident trust	17 (see Note 1)	-

Note 1: Tax assessable to the trustee.

Note 2: Codes 120 and 140 apply if the beneficiary of the trust is a non-resident trustee.

Note 3: Use these codes, as appropriate, where the resident trustee is making a choice to be assessed to a capital gain or gains on behalf of a beneficiary or beneficiaries at item 59 Choice for resident trustee to be assessed to capital gains on behalf of beneficiaries.

Note 4: A lower company tax rate may apply in respect of beneficiary companies that are a base rate entity. For more information, see Changes to company tax ratesExternal Link.

If you have used codes 35 or 140 (inter-vivos trusts) or 14 or 120 (deceased estates) you may be required to complete a TB statement, see Appendix 11External Link.

Return to:

Appendixes for the trust tax return
Instructions to complete the Trust tax return 2026