This article covers the Trust Tax Return (TTR) for 2026 including:
Overview
The ATO has released new forms and schedules for 2026. Apart from minor cyclical changes for the financial year, there are changes to the trust tax return (TTR) and trust income schedule (TIS) for 2026. No change to capital gains tax (CGT) schedule and losses schedule.
Changes Affecting the Trust Tax Return
Trust Tax Return Section |
Description |
|
Item 54 Label G: Other refundable tax offsets |
Removal of label and field as Junior Minerals Exploration Incentive (JMEI) expired in June 2025. |
|
Item 58 Label B1: Non-PP managed investment scheme amount Label H1: Other assessable foreign source from a financial investment amount Label U2: Franked distribution related to investment amount |
New labels and fields have been added to accommodate pre-fills and improve reporting as part of ATO's Modernisation of Tax Administration Systems (MTAS) Phase 2 implementation. |
|
Item 58 Label B2: Non-PP NCMI Label B3: Non-PP Excluded from NCMI |
Minor changes to labels and fields |
|
Item 58 Label M: Exploration credits distributed |
Removal of label and field as Junior Minerals Exploration Incentive (JMEI) expired in June 2025. |
| Added new wordings |
Changes Affecting the Schedules
Trust Income Schedule Section |
Description |
| Distribution details Exploration Credits distributed (label M) |
Removal of label and field Junior Minerals Exploration Incentive (JMEI) expired in June 2025. |
Changes Outside the Trust Tax Return
Denied deductions for ATO interest charges
The tax deductions for general interest charges (GIC) and shortfall interest charges (SIC) have been removed from 1 July 2025. As a result, any GIC and SIC remitted after 30 June 2025 will no longer be required to be included as assessable income in the income year which the remission occurs.
Small business $20,000 instant asset write-off
The amended tax law has extended the $20,000 instant asset write-off limit in 2025/26 income year for small business entities with lesser than $10 million aggregated annual turnover. The $20,000 limit applies on per asset basis, which allows small business entities to instantly write off multiple assets.
ATO PDF 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=0660-6.2026
To download the ATO’s Trust Tax Return instructions, please click the ATO link below:
https://www.ato.gov.au/forms-and-instructions/trust-tax-return-2026-instructions/instructions-to-complete-the-trust-tax-return-2026