Trust Reporting Requirements Variation

Variation to s 59BA(2) of the Tax Administration Act 1994 for trustees of certain trusts that derive a small amount of income.  This variation is effective for the 2021-22 income year and, for a trustee of a trust that is wound up during the 2022-23 income year, the 2022-23 income year.

See Reduced disclosure requirements for small trusts (option 1 – file a return and apply the variation by supplying limited disclosure information) for instructions about how a trustee should provide information required under this variation.

Tax Information Bulletin Vol 35 No 1, February 2023