In the lead-up to 30 June 2023, you can avoid paying an extra tax of up to 47% of Trust profits by completing your Trust Distribution Resolutions before 30 June.
If a Trustee of a Trust fails to make a resolution to distribute the income of the Trust before the end of
the financial year, the Trustee may be assessed by the Australian Taxation Office (ATO) on the Trust income at the highest marginal tax
rate of 47%, rather than the intended beneficiaries being taxed at generally much lower tax rates.
The sooner we get started with preparing your 2023 Trust Distribution Resolutions, the sooner we can help you save tax - well before 30 June 2023 for sufficient time to implement tax saving strategies.
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