Goods and Services Tax Advice
GSTA TPP 049W
Goods and services tax: Is a trustee's in-specie distribution to a beneficiary a taxable supply?
Please note that the PDF version is the authorised version of this ruling.This document has changed over time. View its history.
Notice of Withdrawal
1. GSTA TPP 049 stated that a trustee's in-specie distribution to a beneficiary being a taxable supply depends on the requirements of section 9-5 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) being satisfied. Additionally, as the distribution is a supply to an associate without consideration, it was stated that the requirements of Division 72 of the GST Act would also need to be considered.
2. GSTA TPP 049 is withdrawn as the Commissioners view in relation to this issue is contained in Goods and Services Tax Determination GSTD 2009/1 Goods and Services Tax: is a supply by way of an in specie distribution of an asset that is applied in an enterprise carried on by a discretionary trust to a beneficiary of the trust made 'in the course or furtherance of' the trust's enterprise?
Commissioner of Taxation
9 July 2014
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
Not previously issued as a draft
Representatives of Incapacitated Entities Frequently Asked Questions. "20. Is an in-specie distribution made from a representative to a shareholder a taxable supply?"
ATO ID 2001/503
ATO ID 2001/504
ATO ID 2001/505