myTax 2026 Trusts

Things to know

This section relates to your distributions from trusts, complete this section if:

• you received, or were entitled to
  • income from a trust
  • a credit for amounts of tax paid on, or amounts withheld from, trust income
  • a share of the 'national rental affordability scheme' tax offset
• you had an interest in a trust that made a loss from primary production activities.

If your trust income is from a managed fund, you should enter this information at Managed funds.

A trust is not a separate taxable entity, but the trustee must lodge a tax return for the trust.

Generally, the beneficiaries of the trust declare the amount of their entitlement to the trust's income in their own tax return. Then they pay tax on it, even if they didn’t actually receive the income.

An exception to this is, you don’t need to declare a trust distribution if family trust distribution tax has already been paid.

If you're entitled to an amount of trust income on 30 June 2026, you need to include your share of the net income of the trust in your 2025–26 tax return even if you didn't receive an amount from the trust until after 30 June 2026.

The amount of your share of the trust's net income (for tax purposes) may be different from the actual distribution that you received or were entitled to receive from the trust.

Your trustee should provide you with details about your share of the trust's net income in your trust statement of distribution or advice.

If you're the principal beneficiary of a special disability trust, you're considered to be entitled to all of the income of the trust.

If you're a foreign resident who received a fund payment from a managed investment trust on which an amount was withheld, see Withholding tax arrangements for managed investment trust fund payments.

Don’t show at this section

Don't show the following income or offsets at this section:

• Income from a public trading trust or a corporate unit trust, go to Dividends.
• That part of a distribution that relates to an amount of trust income on which family trust distribution tax has been paid, go to Amount on which family trust distribution tax has been paid.

Completing this section

To complete this section, you'll need a statement of distribution or advice from the trustee.

We pre-fill your tax return with trust statement of distributions provided from lodged trust tax returns. Check them and add any statement of distribution information that hasn't pre-filled.

To personalise your tax return to show trusts, at Personalise return select:

• You had managed fund or trust distributions (including where distribution has capital gains and foreign income)

To show your trust details, at Prepare return select 'Add/Edit' at the Managed fund and trust distributions banner.

At the Trust distributions banner:

1. For each trust distribution that hasn't pre-filled, select Add and enter information into the corresponding fields.
   To learn more about any topic, select the relevant link below.
   • Distribution details
   • Trust income
   • Small business tax offset information
   • Capital gains
   • Foreign income
2. For each trust distribution that hasn't pre-filled, answer the question Do you have distribution labels not shown above?
   If No, go to step 4.
   If Yes, go to step 3.
3. Enter information into the corresponding fields.
   To learn more about any topic, select the relevant link below.
   • Share of credits from income and tax offsets
   • Share of credits from amounts withheld
   • Non-resident beneficiaries
   • Non-concessional MIT income
   • Other income information
   • Deductions
   • Annual Trustee Payment report information
4. For each trust distribution that has a Tax paid by trustee greater than 'zero' (that only displays in a record when the answer to the question Do you have distribution labels not shown above? is Yes)
   1. select the Situation
   2. enter the Share of income.
5. Select Save.
6. Select Save and continue when you have completed the Managed fund and trust distributions section.

Notes

• If you received, or were entitled to, trust income as a special professional you must also enter the amount of this taxable professional income in the Other income section. This includes income from activities as an author, an inventor, performing artist, production associate or active sportsperson.
• Keep a record of each share of net income from a trust with your other records.

Statement of distribution or advice from the trustee

A statement of distribution or advice from the trustee may show the following details in relation to your share trust net income for tax purposes:

• the amount of any
  • primary production income or loss
  • non-primary production income or loss
• the amount of any franked distribution from a trust
• the amount of net small business income from a small business entity trust
• the amount of capital gains, attributed foreign income and other foreign source income
• the amount of any income on which family trust distribution tax or trustee beneficiary non-disclosure tax has been paid
• details that you're a chosen beneficiary if you're the beneficiary of a discretionary primary production trust that has made a loss
• your entitlement to any of the following credits or tax offsets
  • credit for amounts of tax withheld because the trust failed to quote its Australian business number (ABN)
  • credit for amounts of tax withheld by the trustee of a closely held trust because you didn't provide your tax file number (TFN)
  • credit for amounts of tax withheld due to the imposition of non-resident withholding tax or managed investment trust withholding tax from trust income you received when you were a resident
  • share of the 'national rental affordability scheme' tax offset
  • allowable franking credits from franked dividends
  • credit for TFN amounts withheld
  • credit for tax paid by the trustee.

Contact the trustee if you:

• haven't received a statement of distribution or advice (or the advice doesn't contain enough information to help you complete your tax return)
• think that any details are wrong or are missing from your statement of distribution or advice
• identify a discrepancy between pre-filled information and the statement of distribution or advice.

The information provided by your trustee may contain references to help you complete your tax return.

• Your statement may include references such as
  • 58A or A (a label from the statement of distribution – which is part of the Trust tax return)
  • Share of income: Primary production (a field name from the statement of distribution – which is part of the Trust tax return)
  • tax return label reference, like 13L (an individual income tax return label).

To help you enter data into the correct fields in myTax, at Trust distributions the screen will also display:

• statement of distribution references
• Individual tax return references.

If you'd like to see where myTax automatically transfers values from the Trust distributions section, refer to the table below.

Trust distributions labels and where they end up in your tax return

Trust distributions fields in myTax	Corresponding label in your tax return
58A. Share of income: Primary production	13L Primary production – share of net income from trusts
58B. Share of income: Non-primary production	13U Non-primary production – share of net income from trusts less capital gains, foreign income and franked distributions
58U. Franked distributions	13C Non-primary production – Franked distributions from trusts
58D. Franking credit	13Q Share of franking credit from franked dividend
58Y. Share of net small business income	13E Trust share of net small business income less deductions attributable to that share
58F1. Gross capital gain	18H Total current year capital gains The amount reported here should be ‘58F1. Total gross capital gains’ less the losses already applied within the trust ‘58F2. Capital losses applied’.
58F2. Capital losses applied	See Capital gains and trusts
58F3. CGT discount applied	See Capital gains and trusts
58F4. CGT small business concessions applied	See Capital gains and trusts
58F. Capital gains	18A Net capital gain
58G. Attributed foreign income	19K Controlled foreign company (CFC) income
58H. Other assessable foreign source income	20M Other net foreign source income
58N. Australian franking credits from a New Zealand franking company	20F Australian franking credits from a New Zealand franking company
58I. Foreign income tax offset	20O Foreign income tax offset
58W. Share of income of Trust estate	Not required
58R. Share of national rental affordability scheme tax offset	13B Share of National rental affordability scheme tax offset
58T. Early stage venture capital limited partnership tax offset	T7K Early stage venture capital limited partnership – current year tax offset
58J. Early stage investor tax offset	T8L Early stage investor – current year tax offset
58C. Credit for tax withheld where ABN not quoted	13P share of credit for tax withheld where Australian business number not quoted
58E. TFN amounts withheld	13R Share of credit for tax file number amounts withheld from interest, dividends and unit trust distributions
58O. Share of credit for TFN amounts withheld from payments from closely held trusts	13M Credit for TFN amounts withheld from payments from closely held trusts
58L. Share of credit for tax withheld – foreign resident withholding (excluding capital gains)	13A Share of credit for foreign resident withholding amounts (excluding capital gains)
Tax paid by trustee	13S Share of credit for tax paid by trustee
58Z. Share of credit for foreign resident capital gains withholding amounts	18X Credit for foreign resident capital gains withholding amounts
58J. s98(3) assessable amount	Not required
58K. s98(4) assessable amount	Not required
58A1. Share of income PP – NCMI	Not required
58A2. Share of income PP – Excluded from NCMI	Not required
58B2. Share of income Non PP – NCMI	Not required
58B3. Share of income Non PP – Excluded from NCMI	Not required
58F5. NCMI capital gains	Not required
58F6. Excluded from NCMI capital gains	Not required
58C1. Div 6AA eligible income	Not required
Primary production – Other deductions	13X Primary production – other deductions relating to amounts shown at 13N and 13L
Non-primary production – Other deductions	13Y Non-primary production – other deductions relating to amounts shown at 13O, 13U and 13C.
58T. Total TFN amounts withheld from payments	Not required

 

More information

More information about completing the trust distributions section of your tax return using myTax.

• Trust distributions
• Distribution details
• Trust income
• Small business tax offset information
• Capital gains
• Foreign income
• Share of credits from income and tax offsets
• Share of credits from amounts withheld
• Non-resident beneficiaries
• Non-concessional MIT income
• Other income information
• Deductions
• Annual Trustee Payment report information

Trust distributions

If a trust tax return has been lodged, information from statement of distribution section as it relates to your distribution may be pre-filled into the Trust distributions section in myTax. You should review the pre-filled information by checking it against your records.

Otherwise, if your trustee provides you with a copy of the trust’s statement of distribution section from the trust tax return as it relates to your distribution, you can directly enter the information into the Trust distributions section in myTax.

If you don’t receive a copy of the statement of distribution section from the trust tax return, but you receive advice from your trustee about your trust distribution, this advice should contain enough detail to help you to complete the Trust distributions section in myTax. If you need more information, ask the trustee.

If the trust made an overall loss for tax law purposes in 2025–26, the loss is retained in the trust. You'll have no share of the net income of the trust. For more information, contact us.

Distribution details

For each distribution from a trust, use the statement of distribution or advice from the trustee to complete the following:

• Name of distributing trust
• Identifier of distributing trust.

Trust income

Include the following trust income.

Share of income

Include your share of income for:

• Primary production
• Non-primary production

Primary production

Ensure that you include:

• your share of any primary production non-concessional managed investment trust income
• primary production excluded from non-concessional managed investment trust income.

Exception for primary producers – You may still be eligible for income averaging even where the trust reports a loss. While beneficiaries of fixed trusts that report a loss continue to be eligible for income averaging, beneficiaries of discretionary trusts are required to meet some additional requirements.

If you're an eligible beneficiary and you show nothing so far, enter 0 at Share of income: Primary production.

Non-primary production

Ensure that you include:

• your share of any non-primary production non-concessional managed investment trust income
• non-primary production excluded from non-concessional managed investment trust income.

If an amount is shown at Share of income: Non-primary production, to enable us to work out your Income tests amounts, the following fields will need to be completed:

• Managed investment scheme amount (this is the amount that relates to investment income from non-primary production income distributed to you)
• Remaining non-primary production trust amount.

Franked distributions

At Franked distributions show your share of franked distributions, to the extent they formed part of the net income of the trust for tax purposes. The amount you show at Franked distributions also includes your share of attached franking credits (the franking credit 'gross-up').

If an amount is shown at Franked distributions, to enable us to work out your Income tests amounts, the following fields will need to be completed:

• Franked distribution related to investments (this is the amount that relates to investment income from franked distributions distributed to you)
• Remaining franked distribution amount.

Franking credits

Show your share of any allowable franking credits which you were entitled to claim as a franking tax offset through a trust at Franking credit.

You can only claim a share of a franking credit that relates to the share of a franked dividend paid to a trust which is indirectly included in the amount of:

• trust income you enter at Share of income: Non-primary production
• franked distribution you enter at Franked distributions.

Therefore, you can't claim a franking credit for a dividend paid to the trust which was exempt income or non-assessable non-exempt income (for example, a distribution on which family trust distribution tax or trustee beneficiary non-disclosure tax was paid).

You can't claim a share of a franking credit through a trust in any of the following circumstances:

• the trust has an overall loss for tax purposes for 2025–26
• you didn't show an amount at Franked distributions
• the amount of income from the trust you have shown at Share of income: Non-primary production isn't attributable to the franked dividend which has generated the franking credit.

In addition, you may not be entitled to claim the franking credits if any of the following apply:

• within 45 days of buying the shares (90 days for certain preference shares), you either sold them or entered into an arrangement to reduce the risk of making a loss on them
• you're under an obligation to make, or were likely to make, a related payment
• you received a dividend as a result of a dividend washing arrangement.

These rules apply to your interests in the shares held by the trust (other than widely held trusts) in the same way that the rules apply to shares you own directly.

For more information on these rules, see When you're not entitled to claim a franking tax offset.

Small business tax offset information

You may be entitled to the small business income tax offset if either of the following apply:

• your share of net income included a share of net small business income
• you had a farm management repayment or other amount you received as a beneficiary in a small business entity.

At Share of net small business income show your share of the trust’s net small business income.

Amounts you show at this section are not included in your income. They are only used for the purpose of working out your small business income tax offset.

Capital gains

Include your share of the following capital gains.

Gross capital gain

At Gross capital gain show your share of the trust's gross capital gains (prior to any losses or concessions being applied).

Capital losses applied

At Capital losses applied show your share of the capital losses that applied to your share of gross capital gains distributed by the trust.

CGT discount applied

At CGT discount applied show your share of the CGT discount that applied to the gross capital gains distributed by the trust.

CGT small business concessions applied

At CGT small business concessions applied show your share of the small business CGT concessions that applied to the gross capital gains distributed by the trust.

Capital gains

At Capital gains show your share of the trust’s net capital gains. The Trust’s net capital gains is the amount remaining after applying capital losses, CGT discounts and CGT small business concessions.

For more information on capital gains received through a trust, see Capital gains and trusts.

Foreign income

Include your share of the following foreign income.

Attributed foreign income

At Attributed foreign income show your share of attributed foreign income included in the net income of the trust.

For more information on attributed foreign income, see Foreign entities.

Other assessable foreign source income

At Other assessable foreign source income show your share of other assessable net foreign source income included in the net income of the trust for tax purposes.

For more information on other assessable foreign source income, see Other foreign income.

If an amount is shown at Other assessable foreign source income, to enable us to work out your Income tests amounts, the following fields will need to be completed:

• Other assessable foreign source income from a financial investment (this is the amount that relates to investment income from other assessable foreign source income distributed to you)
• Remaining other assessable foreign source income.

Australian franking credits from a New Zealand franking company

At Australian franking credits from a New Zealand franking company show your share of the amount of Australian franking credits that are included in the net income of the trust because of franked dividends received from a New Zealand franking company directly or indirectly through a partnership or other trust.

For more information, see Working out your Australian franking credits from a New Zealand franking company.

Foreign income tax offset

At Foreign income tax offset show your share of foreign income tax offsets.

For more information, see Foreign income tax offset.

Share of income of Trust estate

At Share of income of Trust estate show your share of the income of the trust estate to which you are presently entitled.

Share of credits from income and tax offsets

Include your share of credits from the following income and tax offsets.

Share of national rental affordability scheme tax offset

At national rental affordability scheme tax offset show your share of the National Rental Affordability Scheme (NRAS) tax offset.

Early stage venture capital limited partnership tax offset

At Early stage venture capital limited partnership tax offset show your allocation of the early stage venture capital limited partnership tax offset.

Early stage investor tax offset

At Early stage investor tax offset show your share of the early stage investor tax offset.

Share of credits from amounts withheld

Include your share of credits from the following amounts withheld.

Credit for tax withheld where ABN not quoted

At Credit for tax withheld where ABN not quoted show your share of the total of amounts withheld from income subject to withholding where an ABN was not quoted.

TFN amounts withheld

At TFN amounts withheld show your share of the amounts withheld from all payments or distributions where you didn't provide a TFN.

Credit for TFN amounts withheld from payments from closely held trusts

At Share of credit for TFN amounts withheld from payments from closely held trusts show your share of the amounts withheld from all payments or distributions from closely held trusts where a TFN wasn't provided.

Credit for tax withheld – foreign resident withholding

At Share of credit for tax withheld – foreign resident withholding (excluding capital gains) show your share of any foreign resident withholding credit:

• received as an Australian resident where an amount of tax was withheld because of the imposition of non-resident withholding tax or managed investment trust withholding tax
• derived as a foreign resident from which an amount of tax was withheld because of the operation of the foreign resident withholding rules.

Tax paid by trustee

If you enter an amount at Tax paid by trustee, you'll need to:

• select the Situation
• enter the Share of income.

Non-resident trust

A non-resident trust is a trust which, for all of 2025–26, had both:

• non-resident trustees only
• its central management and control outside Australia.

If you were an Australian resident, you may be able to claim a credit for Australian withholding tax you have borne on any Australian sourced:

• dividend
• interest
• royalty
• payment from an Australian managed investment trust included in the income of a non-resident trust to which you're entitled.

Legal disability

If you were under a legal disability, you may be able to claim a credit for the tax that the trustee has paid on your share of the trust's net income. You're considered to be under a legal disability if you:

• were under 18 years old on 30 June 2026
• were a person who is bankrupt
• had been declared legally incapable because of a mental condition.

Foreign resident

If you're not an Australian resident, you may be able to claim a credit for the tax that the trustee has paid on your share of income from a resident trust.

Share of credit for foreign resident capital gains withholding amounts

At Share of credit for foreign resident capital gains withholding amounts show your share of foreign resident capital gains withholding.

For more information, see Foreign resident capital gains withholding overview.

Non-resident beneficiaries

s98(3) assessable amount

At s98(3) assessable amount show your share of the amount the trust is liable to pay tax on under subsection 98(3) of the ITAA 1936.

s98(4) assessable amount

At s98(4) assessable amount show your share of the amount the trust is liable to pay tax on under subsection 98(4) of the ITAA 1936.

Non-concessional MIT income

We use the following acronyms in this section:

• NCMI – Non-concessional MIT income.
• MIT – Managed investment trust.

Share of income PP – NCMI

At Share of Income PP – NCMI show your share of the total NCMI amount distributed from a trust categorised as primary production income.

If you show an amount here, you'll also need to show an amount at Share of income: Primary production.

Share of income PP – Excluded from NCMI

At Share of Income PP – Excluded from NCMI show your share of non-primary production income excluded from NCMI.

If you show an amount here, you'll also need to show an amount at Share of income: Primary production.

Share of income Non PP – NCMI

At Share of Income Non PP – NCMI show your share of the total NCMI amount distributed from a trust categorised as non-primary production income, that is, cross staple income, trading trust income and residential housing income.

If you show an amount here, you'll also need to show an amount at Share of income: Non-primary production.

Share of income Non PP – Excluded from NCMI

At Share of income Non PP – Excluded from NCMI show your share of non-primary production income excluded from NCMI.

If you show an amount here, you'll also need to show an amount at Share of income: Non-primary production.

NCMI capital gains

At NCMI capital gains show your share of the total NCMI capital gains amount.

If you show an amount here, you'll also need to show an amount at Gross capital gain.

Excluded from NCMI capital gains

At Excluded from NCMI capital gains show your share of the total capital gains amount excluded from NCMI.

If you show an amount here, you'll also need to show an amount at Gross capital gain.

Other income information

Div 6AA eligible income

At Div 6AA eligible income if you're under 18 years old at the end of the income year, show your share of net income that's eligible income.

Deductions

Remember, you can't claim a deduction for:

• amounts already claimed by the trust
• expenses you incurred in deriving exempt income or non-assessable non-exempt income (for example, expenses incurred in deriving distributions on which family trust distribution tax or trustee beneficiary non-disclosure tax has been paid).

If you were the beneficiary of a discretionary trust you can't claim a deduction for expenses you incurred in relation to your share of any net income of the trust under the general deduction provisions. This is because when you incurred the expense, you weren't entitled to any income of the trust.

If you made a prepayment of $1,000 or more for something to be done (in whole or in part) in a future income year, the rules relating to prepayments may affect the amount you can deduct. For more information on prepayments, see Deductions for prepaid expenses.

If you incurred debt deductions, the thin capitalisation rules may affect the amount you can deduct. For example, debt deductions such as interest and borrowing costs, in deriving assessable income from a trust, of more than $2 million (alone or combined with those of your associate entities) for 2025–26. For more information, see Thin capitalisation.

If you have used the Depreciation and capital allowances tool to work out any decline in value deductions for your trust, you’ll need to use your recorded information to complete trust deductions.

Primary production – Other deductions

If a trustee incurred eligible expenditure on landcare operations, water facilities, fencing assets or fodder storage assets, only the trustee, not a beneficiary of the trust, can claim deductions for that expenditure.

Include at Primary production – Other deductions your share of other deductions that you can claim in relation to your share of primary production income of a trust that you can claim this income year.

Non-primary productions – Other deductions

If a trustee incurred eligible expenditure on landcare operations, only the trustee, not a beneficiary of the trust, can claim deductions for that expenditure.

Include at Non-primary production – Other deductions your share of any other deductions that relate to non-primary production income of a trust that you can claim this income year, including deductions relating to franked distributions from trusts.

If an amount is shown at Non-primary production – Other deductions, to enable us to work out your Income tests amounts, the following fields will need to be completed:

• Managed investment scheme deductions (this is the amount that relates to investment deductions related to trusts)
• Remaining trust deductions.

Annual Trustee Payment report information

Complete the following label.

Total TFN amounts withheld from payments

At Total TFN amounts withheld from payments show the amounts withheld from all payments or distributions in your trust distribution because you didn't provide your TFN. This includes amounts withheld from payments during the year or as a result of determining present entitlement at the end of the income year.

Don't include amounts you have included at Share of credit for TFN amounts withheld from payments from closely held trusts.

Capital gains and trusts

If your trust distribution includes a capital gains component, how you complete the rest of your myTax return will depend on your circumstances.

If your only capital gains are from trusts or managed funds and included at the Managed fund and trust distributions section and:

• your current year capital gains are $10,000 or less, don't complete the Capital gains or losses section
• your current year capital gains are more than $10,000, you must complete the Capital gains or losses section
  • myTax will prompt you to complete the Capital gains or losses section
  • myTax will complete Total current year capital gains and Net capital gain in the Capital gains or losses section from information included in the Managed fund and trust distributions section
  • you must complete the Capital gains tax schedule.

If you have other capital gains tax events during the year or you have carried forward capital losses from a prior income year:

• complete the Capital gains or losses section
  • myTax will prompt you to complete the Capital gains or losses section
  • the capital gains amounts included in the Managed fund and trust distributions section will be automatically carried over to the Capital gains or losses section for you to review
  • include all your capital gains from managed funds and trusts in what you enter at Total current year capital gains and Net capital gain.

Who is a primary producer?

A primary producer undertakes:

• plant or fungi cultivation (or both)
• animal maintenance or domestic breeding (or both)
• fishing or pearling (or both)
• tree farming or felling (or both).

For more information about who is a primary producer, see Primary production activities.