Streaming franked dividends, capital gains, Cash Flow Boost and JobKeeper through trusts.
The taxation of trust income continues to present issues. Streaming franked dividends & capital gains, and distributing trust income generally, is an everyday issue. Whilst this has potential for confusion, a simple and consistent approach will help significantly. The addition of Cash Flow Boost (non-assessable) and JobKeeper (assessable) amounts are new issues this year.
This webinar recording covers the following:
- Brief recap on how trust income is taxed
- A simple and practical approach to properly streaming franked dividends and capital gains, and
- distributing other income
- What to do when a trust has a franked dividend and/or net capital gain, and everything else totals to a net loss/deduction
- Incorporating Cash Flow Boost and JobKeeper receipts for 2019/20
- Practical examples, including reconciling tax outcomes with a trust’s accounting profit, trust
- distribution resolutions
- Trust tax return disclosures