Draft Taxation Determination

TD 92/D211

Income tax: can a trustee quote the trust Tax File Number (TFN) to an investment body when an investment of the trust estate is held in the trustee's name?

  • Please note that the PDF version is the authorised version of this draft ruling.
    This document has been finalised by TD 93/61.

FOI status:

draft only - for comment

Preamble

Draft Taxation Determinations (TDs) represent the preliminary, though considered, views of the ATO. Draft TDs may not be relied on; only final TDs are authoritative statements of the ATO.

1. Yes. Subsections 202D(6) and (7) of the Income Tax Assessment Act 1936 specifically allow a person making an investment in their capacity as a trustee of a trust estate to quote the trust TFN. This applies even though the account is held in the name of the trustee.

Example

John Wong is the trustee of the Wong Family Trust and in his capacity as trustee for the trust invests $1,000 in a bank account in the name of John Wong. As the investment was made by John Wong in his capacity as trustee (and not simply as an individual in his own right), the TFN of the Wong Family Trust may be quoted.

Commissioner of Taxation
12/11/92

References

ATO references:
NO

ISSN: 1038-8982

Subject References:
Tax File Number
Trusts
Trustees
Investments

Legislative References:
ITAA 202D(6)
ITAA 202D(7)

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