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  • What are the exceptions for trusts?



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    We have noticed the following two types of trust income distributions being incorrectly reported at item 13.

    Where a trust distribution includes a capital gain - record this amount at item 18 of the individual return.

    TaxPack supplement 2011: item 18

    Where your client is an individual beneficiary and a trust distributes non-primary production foreign income to them - declare this income at the foreign income labels of the tax return at item 20.

    TaxPack supplement 2011: item 20


    A partnership does not own assets for capital gains tax purposes. Each partner owns a proportion of each asset and must include their share of the capital gain or capital loss in their individual return at item 18.

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    Further Information

    For more information, refer to:

    End of further information
    Last modified: 13 Oct 2011QC 25050