Overview
The Trust Tax Return (TRT) 2024 stationery has been released by the ATO and the key changes are as follows:
- New labels added into the statement of beneficiary section section after the Capital gains field (F)
- Non-return related Trust changes
Trust Tax Return 2024 Changes
| Tax Return Section | Description |
|
Item 58: Statement of distribution Label F1: Gross capital Label F2: Capital losses applied Label F3: CGT discount applied Label F4: CGT small business concessions applied
|
From 2023-24 financial year, In the Trust tax return 2024, the following capital gains tax (CGT) labels have been added or updated at item 58 Statement of distribution |
|
Item 8: Partnerships and Trusts Label 8Z: Share of net income from trusts Label 8R: Share of net income from trusts, Label 8F: Franked distributions from trusts Label 8D: Share of franking credits from |
From 2023-24 financial year, if the Trust receives any distribution from listed or unlisted trusts and reports income at any of the labels shown in the left column, the Trust Income Schedule must be completed |
Non-return related Trust changes
Electronic Lodgement Declaration (ELD)
The ATO has made some minor changes to the wording in the declaration section of Trust Tax Return and relevant schedules. We have updated the electronic lodgement declaration to reflect the changes.
ATO Trust Tax Return & Instructions
To download the ATO's Trust Tax Return form, please click the ATO link below:
https://iorder.com.au/publication/publicationdetails.aspx?pid=0660-6.2024
To download the ATO’s Trust Tax Return instructions, please click the ATO link below:
Instructions to complete the trust tax return 2024 | Australian Taxation Office (ato.gov.au)