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Trust Vesting Administrative Approach

Consultation has concluded

We have published a draft taxation ruling on trust vesting TR 2017/D10 Income tax: Trust vesting. The draft ruling outlines our views on the general law and income tax consequences of a trust vesting.

Some trustees may have been unaware of, or not effectively extended, the vesting date of their trust, and have continued to administer the trust after this date in a way that is not consistent with the trust deed or the beneficiaries’ vested interests. As this can have significant tax consequences, we are developing an administrative approach to assist trustees and beneficiaries of trusts that have vested to get their tax affairs in order.

To develop our administrative approach, we are seeking your feedback on:

  • the practical issues that may arise for trusts that have been administered beyond the vesting date in a way that is not consistent with the trust deed, and
  • what type of advice and assistance we can provide.

The attached Consultation paper provides more detail about our views on trusts vesting, and outlines the questions we need your assistance with.

We have published a draft taxation ruling on trust vesting TR 2017/D10 Income tax: Trust vesting. The draft ruling outlines our views on the general law and income tax consequences of a trust vesting.

Some trustees may have been unaware of, or not effectively extended, the vesting date of their trust, and have continued to administer the trust after this date in a way that is not consistent with the trust deed or the beneficiaries’ vested interests. As this can have significant tax consequences, we are developing an administrative approach to assist trustees and beneficiaries of trusts that have vested to get their tax affairs in order.

To develop our administrative approach, we are seeking your feedback on:

  • the practical issues that may arise for trusts that have been administered beyond the vesting date in a way that is not consistent with the trust deed, and
  • what type of advice and assistance we can provide.

The attached Consultation paper provides more detail about our views on trusts vesting, and outlines the questions we need your assistance with.

Trust vesting feedback

Consultation has concluded