Trust Overview
Trust assets, income available to distribute & beneficiary summary
Corpus vs Short-term Assets
Key Trust Ratios
Income Statement β Comparative
Trust income and expenses β what's available to distribute
π‘ Trust income = all income of the trust before distributions. Distributable income is calculated after trustee deductions and losses.
Trust Income
Deductions & Expenses
Balance Sheet β Comparative
What the trust owns, what it owes & net value β compared to prior year
π‘ Net Assets of Trust = Total Assets β Total Liabilities. This represents the corpus accumulated for beneficiaries.
Long-term Assets
Short-term Assets
Current Liabilities
Non-Current Liabilities
Net Assets
Cashflow Statement β Comparative
Cash in and out of the trust β current and prior year
Operating Activities
Investing Activities
Financing / Distribution Activities
Trial Balance
Full list of trust account balances β verify debits equal credits
| Account | Type | Debit ($) | Credit ($) |
|---|
Distributions & Beneficiary Register
Add beneficiaries, record distributions & track by year
β All income must be allocated to beneficiaries by 30 June each year. Any income not distributed is taxed to the trustee at the top rate (47%).
Beneficiary Register
| Name | Type | Tax Rate |
|---|
Distribution Ledger
| Beneficiary | Year | Income Type | Amount |
|---|
Distribution Summary by Beneficiary
Financial & Trust Ratios
Key trust ratios β distributions, asset coverage & efficiency
π‘ Ratios pull from your Income Statement and Balance Sheet. Enter those first, or override inputs below.
Input Override
Liquidity Ratios
Income & Profitability
Trust-Specific Ratios
Leverage & Asset Quality
Tax Planning
Tax on undistributed income, TFN rules & 30 June deadlines
Tax on undistributed income
β Any trust income not distributed to a beneficiary is taxed to the trustee at 47%. Distribute all income before 30 June each year.
TFN withholding tax
π‘ If a beneficiary has not provided their tax file number (TFN), the trustee must withhold 47% from their distribution and pay it to the ATO.
Trust Tax Checklist
Capital Gains β Directing to Beneficiaries
π‘ Trusts can direct capital gains and franked dividends to specific beneficiaries who will benefit most from those tax concessions.
Trust Settings
Trust details, reporting periods & data