Accounting & tax — Trusts
Trust Tax Return Accountant
Australian trust tax returns and financial statements prepared by a Chartered Accountant and registered tax agent — distribution resolutions, present entitlement, streaming of franked dividends and capital gains, and beneficiary statements handled as one engagement.
- Discretionary trusts
- Unit trusts
- Trading trusts
- Testamentary trusts
- Distribution resolutions
- Beneficiary statements
Eternity Group Accountants is a registered tax agent (TPB 25523469). Information on this page is general in nature and does not constitute personal tax advice. Before acting, consider whether the information is appropriate to your circumstances and seek advice from a qualified tax professional.
Scope of work
What's included in your trust tax return.
A clean, defensible trust return — financial statements, the return itself, a documented distribution position and beneficiary statements — prepared as a single piece of work rather than disconnected steps.
Financial statements & the trust return
P&L · balance sheet · Form TRT
Year-end financial statements prepared from your Xero or MYOB file (or trial balance), reconciled against bank, BAS and prior-year accounts, then carried through to the trust income tax return with the schedules your circumstances require.
Distribution resolutions & present entitlement
Resolution timing · beneficiary entitlements
Review of the trustee's distribution resolution and each beneficiary's present entitlement. As a general matter, resolution timing before 30 June matters, so we look at the deed and the year's position rather than assuming a default outcome — the right approach depends on your circumstances.
Streaming franked dividends & capital gains
Deed-permitting allocation
Where the trust deed allows it, franked dividends and capital gains can generally be streamed to specific beneficiaries so that franking credits and any CGT discount follow the entitled beneficiary. Whether streaming is available and appropriate depends on the deed and the relevant rules, which we assess each year.
Beneficiary statements & trustee-company coordination
Statements · entity alignment
Beneficiary statements showing each beneficiary's share of income and credits, ready to flow into their own returns. Where there is a corporate trustee or a bucket company, we coordinate those entities so the positions across the group line up.
Suited to
Trust returns we prepare.
Family discretionary trusts
The common family structure used to hold income-producing assets and direct income across family members each year. Financial statements, the trust return, the distribution resolution and beneficiary statements prepared together, with each beneficiary's individual return considered alongside.
Unit trusts
Trusts with defined unit holdings, often used between unrelated parties or alongside an SMSF. Distributions follow unitholdings rather than trustee discretion, so we reconcile the unit register, confirm entitlements and prepare statements for each unitholder.
Trading trusts with a corporate trustee
An operating business run through a trust with a company as trustee. We prepare the trust financials and return, coordinate the trustee company return, and keep an eye on Division 7A where entitlements involve a corporate beneficiary.
Company tax returnInvestment & rental-holding trusts
Trusts holding a share portfolio, managed funds or a rental property. Dividend and distribution income, franking credits, capital gains events and rental schedules are brought into the return, with streaming considered where the deed permits.
Process
From financials to beneficiary statements — one clear sequence.
A document-driven engagement where you always know what is next, what the fixed fee covers and when lodgement happens. We also coordinate with the rest of your accounting work — see all our accounting services on the main Accounting page.
Financial statements
Trial balance reviewed, reconciliations confirmed and any open items resolved, then the P&L, balance sheet and notes prepared so the trust's income for the year is settled before any distribution work begins.
Distribution review
We review the distribution resolution timing and each beneficiary's position, considering streaming where the deed allows. This is general in nature and depends on your circumstances, so we document the reasoning rather than applying a fixed template.
Lodgement & beneficiary statements
The trust return is finalised and lodged through the tax-agent portal, and beneficiary statements are issued so each beneficiary's share of income and credits flows correctly into their own return.
Frequently asked questions
Trust tax return — common questions.
As a general guide, a trust return engagement typically includes preparation of the trust financial statements (P&L and balance sheet), the trust income tax return, a review of the distribution resolution and present entitlement, the streaming of any franked dividends and capital gains where the deed allows it, and beneficiary statements showing each beneficiary's share. The specific scope depends on your circumstances, and a fixed fee covering that scope is confirmed in writing before work starts.
Related
Where this fits in the bigger picture
A trust return rarely sits in isolation. The trustee company, the beneficiaries' individual returns, forward tax planning and any lending against trust assets all connect.
- Tax & Accounting
Company tax return
For the corporate trustee or a bucket company beneficiary — prepared alongside the trust return so entitlements and Division 7A positions reconcile across the group.
- Tax & Accounting
Individual tax return
Beneficiaries' individual returns prepared with their trust distribution, franking credits and any capital gains carried through from their beneficiary statement.
- Tax & Accounting
Tax planning & strategy
Forward-looking strategy across the trust and its beneficiaries: distribution timing, resolution preparation before 30 June, and structure reviews considered as general guidance.
- Business Services
Business advisory & Virtual CFO
For trading trusts running an active business — management reporting, cashflow and an outsourced finance function that sits over the annual return.
- Guide
Guide: company vs trust
A plain-English comparison of companies and discretionary trusts — tax treatment, asset protection, the CGT discount, losses and compliance cost.
- Local
Trust tax accountant — Hills District
Local trust accounting for families and businesses across the Hills District, with the same engagement handled in person where that suits you.
- Mortgage Broking
Investment property loans
For clients weighing a trust structure alongside an investment-property loan, both decisions can be scoped together rather than in isolation.
- Mortgage Broking
Loans for family trusts & companies
Where the trust itself is the borrower — guarantor requirements, trust-deed and corporate-trustee checks, and how lenders read entity borrowers. Lender policy applies.