In the recent months, the Australian Taxation Office (ATO) has focused its attention on the taxation of family trusts. If you are want your Melbourne accountant or small accounting firm Melbourne to manage your trust, then you may want to discuss a few important points with them to get the best returns from your trust income tax:
Make sure you take the time to carefully read your trust deed. Coordinate with your Melbourne Accountant or small accounting firm Melbourne to ensure the income is properly distributed as stated in the deed. Mistakes in the distribution will not only cost you extra money, it can also come with legal implications.
While this may seem like a simple mistake, it is quite common one. This is why it is practical to hire the services of a Melbourne Accountant or a small accounting firm Melbourne to help you go through the important points and protect your best interest.
Any sale and purchase of things like investment properties are subject to Capital Gains Tax. With the help of your Melbourne accountant or small accounting firm Melbourne, you can distribute the capital gains to trust beneficiaries with low marginal tax rates.
If you want to know more how you can best manage trust taxes, contact us today.