10/06/2026
🚨 EOFY Reminder for Trustees 🚨
With 30 June fast approaching, now is the time to review your trust distributions, resolutions, and record-keeping practices.
The ATO has highlighted its Top 5 EOFY Tips for Trustees to help avoid common mistakes that can lead to higher tax liabilities, denied deductions, and costly penalties.
✅ Understand how income is defined in your trust deed
✅ Correctly identify beneficiaries
✅ Ensure trust resolutions are made by 30 June
✅ Maintain complete and accurate records
✅ Check holding period rules for franking credits
A missed deadline or incorrect distribution can have significant tax consequences. If you're a trustee or beneficiary, now is the time to act.
Need assistance reviewing your trust before EOFY? Contact Active Accountants today.