The beneficiary is presently entitled to a share of the income of the trust and is: |
Resident beneficiary assessment code |
Non-resident beneficiary assessment code |
|---|---|---|
over 18 years of age and under a legal disability or an excepted person |
25 (see Note 1) |
125 (see Note 1) |
a prescribed person receiving excepted income only |
26 (see Note 1) |
126 (see Note 1) |
a prescribed person receiving eligible income only |
27 (see Note 1) |
127 (see Note 1) |
a prescribed person receiving excepted and eligible income only |
28 (see Note 1) |
128 (see Note 1) |
a prescribed person receiving eligible income (or eligible and excepted income) from more than one trust |
29 (see Note 1) |
129 (see Note 1) |
not under any legal disability |
30 |
138 (see Note 1) |
a company (that is a base rate entity) |
34 |
134 (see Note 1 and Note 4) |
a company (that is not a base rate entity) |
34 |
139 (see Note 1) |
a trustee |
35 |
140 (see Note 2) |
the principal beneficiary of a special disability trust |
45 (see Note 1) |
145 (see Note 1) |
No beneficiary is presently entitled to a share of the income of the trust and is: |
Resident beneficiary assessment code |
Non-resident beneficiary assessment code |
|---|---|---|
a resident or non-resident trust where no beneficiary is presently entitled to income |
- |
|
a bankrupt estate |
37 (see Note 1) |
- |
a resident or non-resident trust where no beneficiary is presently entitled to income and to which subsection 99A(2) of the ITAA 1936 is to be applied. |
- |
The beneficiary is presently entitled to a share of the income of the trust and is: |
Resident beneficiary assessment codes |
Non-resident beneficiary assessment codes |
|---|---|---|
under a legal disability |
11 (see Note 1) |
111 (see Note 1) |
not under a legal disability |
12 |
118 (see Note 1) |
a company (that is not a base rate entity) |
13 |
119 (see Note 1) |
a company (that is a base rate entity) |
13 |
134 (see Note 1 and Note 4) |
a trustee |
14 |
120 (see Note 2) |
No beneficiary is presently entitled to a share of the income of the trust and: |
Resident beneficiary assessment codes |
Non-resident beneficiary assessment codes |
|---|---|---|
the deceased person died less than three years before the end of the income year |
- |
|
the deceased person died more than three years before the end of the income year |
- |
|
it is a non-resident trust |
17 (see Note 1) |
- |
Note 1: Tax assessable to the trustee
Note 2: Codes 120 and 140 apply if the beneficiary of the trust is a non-resident trustee.
Note 3: Use these codes, as appropriate, where the resident trustee is making a choice to be assessed to a capital gain or gains on behalf of a beneficiary or beneficiaries at item 58.
Note 4: A lower company tax rate may apply in respect of beneficiary companies that are a base rate entity. For more information see Changes to company tax rate.
If you have used codes 35 or 140 (inter-vivos trusts) or 14 or 120 (deceased estates) you may be required to complete a TB statement, see Appendix 11.