How to make a TB statement

You make a correct trustee beneficiary (TB) statement for an income year by:

• providing certain information in the statement of distribution in your trust tax return for that year, and
• lodging the TB statement by the due date for your trust tax return.

You need to complete the TB statement for all relevant trustee beneficiaries.

For resident trustee beneficiaries you must report:

• the name and TFN of the trustee beneficiary
• the untaxed part of their share of the trust's net income
• their share of the tax-preferred amount.

For non-resident trustee beneficiaries you must report:

• the name and address of the trustee beneficiary
• the untaxed part of their share of the trust's net income
• their share of the tax-preferred amount.

Handling tax file numbers

To make a TB statement for a resident trustee beneficiary you must provide their TFN. The TFN and name to be provided is the one issued to the trust estate, not the one issued to the trustee in their individual capacity.

You must use secure methods when collecting, storing and disclosing TFN information. You can, in connection with making a TB statement:

• record a TFN or maintain such a record
• use a TFN in a manner connecting it with the identity of the trustee beneficiary
• divulge or communicate a TFN to a third person.

Extension of due date

Generally you must lodge the TB statement by the due date for your trust tax return for the income year.

We may grant an extension of time to lodge a TB statement in certain circumstances – for example, if you could not obtain the required information from a third party by the due date, or you inadvertently failed to lodge a TB statement.

Applications should be made in writing to:

Australian Taxation Office
PO Box 1128
PENRITH  NSW  2740

Amendment requests

You can request an amendment of your TB statement if you lodged it within the required lodgment period believing, on reasonable grounds, that it was correct, and either:

• you could not have foreseen the event that caused it to be incorrect
• it was not correct due to an inadvertent error.

Your request to amend a TB statement must be made either:

• before any trustee beneficiary non-disclosure tax becomes due and payable on the untaxed part of the share of the net income
• within four years of trustee beneficiary non-disclosure tax becoming due and payable.

See also:

• Do you need to make a TB statement?
• Trustee beneficiary non-disclosure tax