Entity details
Write the tax file number (TFN) of the trust in the space provided.
All trustees using the Family trust election, revocation or variation 2024 must complete items 1, 2 and 3 if it applies.
Section A: Family trust election or variation details
If the trustees are making a family trust election specifying the 2004–05 or later year, complete Section A.
Trustees must provide all the information required in Section A for a family trust election specifying the 2004–05 or later year to be made in accordance with section 272-80 of Schedule 2F to the ITAA 1936.
When making a family trust election, make sure you write either 2005 or a later income year (as appropriate) in Section A, item 6 in the Income year specified box.
If the trustees are varying the specified individual, complete item 6 or 7 (depending on which is applicable) and Section A, item 8.
Trustees must provide all the applicable information required for the specified individual in their family trust election to be varied in accordance with subsections 272-80(5A) to (5D) and (8) of Schedule 2F to the ITAA 1936.
Although it is not an offence not to quote a TFN, any TFN required on this form is information which the Commissioner requires within the meaning of subsection 272-80(3) of Schedule 2F to the ITAA 1936. If the TFN of a person or entity is required on the Family trust election, revocation or variation 2024 and the relevant person or entity doesn't have a TFN, print X in the box provided.
Section B: Family trust revocation
If the trustees are revoking a family trust election in 2023–24, complete Section B.
Trustees must provide all the information required in Section B for a family trust election to be revoked in accordance with subsections 272-80(6) to (8) of Schedule 2F to the ITAA 1936.
Declarations
Where the Family trust election, revocation or variation 2024 is used to make a family trust election, every trustee of the trust must sign and date the form at the time the family trust election is made. If a trustee is a company, the company’s public officer must sign for that corporate trustee.
Where the Family trust election, revocation or variation 2024 is used to revoke or vary a family trust election, every trustee of the trust must sign and date the form at the time the:
- 2024 tax return for the trust is lodged with this form, or
- Family trust election, revocation or variation 2024 must be given to the Commissioner.
If a trustee is a company, the company’s public officer must sign for that corporate trustee.