IS 18/01
Issued
28 Jun 2018

Taxation of trusts - income tax

This Interpretation Statement summarises the income tax law as it applies to trusts. It replaces and updates the Commissioner’s original statement on the trust rules in the 'Explanation of Trusts' in the Appendix to Tax Information Bulletin Vol 1, No 5 (November 1989) which was based on the Income Tax Act 1976. The Interpretation Statement sets out the Commissioner’s view on the application of the trust rules for income tax purposes having regard to the changes made since the 1989 TIB item and the current Income Tax Act 2007.