Instructions to complete the trust tax return

Instructions for how to complete the Trust tax return 2023.

Last updated 18 July 2023

Trust information

Instructions to complete the information that identifies the trust in the tax return.

Trust election status, trust type, details and tax payable

Instructions to complete family trust or interposed entity election, trust type, CCIV referable shares and MIT details.

Business description and status – items 1 to 2

Instructions to complete items 1 to 2 in the tax return that relate to the trusts business description and status.

Income excluding foreign income – item 5

Instructions to complete item 5 business income and expenses – excluding foreign income.

Income excluding foreign income – items 6 to 9

Instructions to complete items 6 to 9 in the tax return relating to income of the trust, excluding foreign income.

Income excluding foreign income – items 10 to 15

Instructions to complete items 10 to 15 in the tax return relating to income of the trust, excluding foreign income.

Deductions – items 16 to 20

Instructions to complete items 16 to 20 in the tax return relating to deductions for the trust.

Capital gains – item 21

Instructions to complete item 21 in the tax return relating to capital gains for the trust.

Foreign income – items 22 to 24

Instructions to complete items 22 to 24 in the tax return relating to foreign income of the trust.

Tax losses deducted – item 25

Instructions to complete item 25 in the tax return relating to tax losses of the trust.

Total net income or loss – item 26

Instruction to complete item 26 total net income or loss in the tax return for the trust.

Losses information – item 27

Instructions to complete item 27 in the tax return, losses information for the trust.

Landcare and water facility tax offset – item 28

Instructions to complete item 28 in the tax return to claim the landcare and water facility tax offset for the trust.

Overseas transactions – item 29

Instructions to complete item 29 in the tax return relating to overseas transactions for the trust.

Personal services income – item 30

Instructions to complete item 30 in the tax return relating to personal services income for individuals in the trust.

Taxation of financial arrangements – item 31

Instructions to complete item 31 in the tax return relating to taxation of financial arrangements (TOFA) for the trust.

Non-concessional MIT income – item 32

Instructions to complete item 32 in the tax return relating to non-concessional managed investment trust (MIT) income.

Key financial information – items 33 to 36

Instructions to complete items 33 to 36 in the tax return relating to key financial information for the trust.

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