A trustee is required to lodge a trust income tax return, regardless of the amount of net income involved, unless ATO advise that a return is not required.
If the trustee is liable for tax they will receive an income tax assessment as trustee that is separate to their own assessment as an individual or corporate tax entity.
We can help you with your trustee’s bookkeeping. We perform a range of reconciliations, proofs and integrity checks based on the information you have provided, and then preparation and electronic lodgement of a trust income tax return with ATO.
If you have done with your trust’s bookkeeping, we can perform a review of bookkeeping record, so as to provide you with a second opinion and electronic lodgement of your trust income tax return with ATO.