With the 2017 Financial Year coming to an end we want you to be aware that if you use a trust, you need to complete your trust distribution resolutions before 30 June.
Why? To avoid paying extra tax of up to 49% of Trust profits.
Trustees who distribute income of a Discretionary / Family Trust to beneficiaries should sign a resolution by 30 June 2017 for the distributions to be effective in determining who is to be assessed on the Trust’s income! If you don’t make a resolution, you could pay up to 49% tax on the Trust’s profits.
Watch the short video below to learn how trust resolutions can help you reduce tax and increase your wealth at the same time.
Imagine what you could do with your tax saved!
- Reduce your home loan
- Top up your Super
- Have a holiday
- Deposit for an investment property
- Pay your children’s education
- Buy 2 gold unicorns
- Upgrade your car
The possibilities are endless! 30 June will be here before we know it. Let us help you get the most out of the upcoming months.
Contact us today to get started.