Ep 24: What you must know about trust distributions

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This week Mena and Stuart what you must know about trust distributions. Main points include: 

• Not presently entitled to income is taxed at 45%, so it’s best to make a distribution. 
• Trustee minutes must be completed prior to 30 June, so tax planning should be an ongoing process. 
• From here on in it is very likely that you must distribution the actual cash for any distributions other than to your spouse or children under 18. 
• When distributing to a corporate beneficiary, be careful about Div. 7A loans and discuss what you can potentially do with the funds – there must be a strategy. 

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.