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 discretion under subsection 99A(2) of the ITAA 1936 has been received | - |
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 3 years before the end of the income year | - | |
the deceased person died more than 3 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 59 Choice for resident trustee to be assessed to capital gains on behalf of beneficiaries.
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 rates.
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.
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