Partnership & Trust Tax Return Services
Northern Accountants provides specialist tax compliance and annual returns for discretionary family trusts, unit trusts, and commercial partnerships across Darwin and Palmerston. Our registered tax agents ensure complete adherence to ATO Section 100A guidelines, 30 June trustee distribution resolutions, and Division 7A loan rules.
Trust & Partnership Tax Scope & ATO Strategy Alignment
Trusts and partnerships are under intense ATO oversight regarding beneficiary distributions and profit streaming. Northern Accountants conducts rigorous technical reviews to safeguard your family wealth while optimising distribution strategies.
- Trust Tax Returns (Form T): Full calculation of net trust income under Section 95, capital gains streaming under Subdivision 115-C, and franking credit streaming under Subdivision 207-B.
- Section 100A Review & Risk Assessment: Verifying that all trust distributions comply with ATO TR 2022/4 and fall squarely within PCG 2022/2 Green Zone ordinary family dealings.
- 30 June Trustee Distribution Minutes: Timely drafting and execution of effective distribution resolutions before 30 June to prevent punitive trustee assessments under Section 99A.
- Division 7A Corporate Beneficiary Management: Structuring unpaid present entitlements (UPEs) to corporate bucket companies in compliance with ATO TD 2022/11 and executing Section 109N loan agreements.
- Partnership Tax Returns (Form P): Comprehensive reconciliation of trading accounts, asset schedules, partner salaries, and profit allocation schedules.
- Beneficiary Tax Schedules: Generation of detailed distribution statements for individual, corporate, or super fund beneficiaries for seamless cross-lodgement.
What to Provide for Trust or Partnership Lodgements
To allow our senior accountants to analyse and prepare your entity returns efficiently, please provide the following records prior to consultation.
- Executed Trust Deed, Partnership Agreement, and any subsequent deed amendments or variations.
- End-of-year trial balance, balance sheet, and profit and loss statements (e.g. from Xero).
- Bank statements for all entity accounts as of 30 June.
- Prior year trustee distribution minutes and historical beneficiary loan account ledgers.
- Details of any capital assets, commercial real estate, or shares acquired or sold during the financial year.
- List of intended beneficiaries and proposed profit distribution ratios.
Our 3-Step Trust & Partnership Engagement Process
We ensure complex trust structures remain fully compliant with Australian tax jurisprudence and ATO administrative guidance.
- Step 1: Scoping Consultation — Book directly online via our online calendar, or phone Casuarina on 08 8941 3900 or Palmerston on 08 8932 8004 to discuss your trust structure and receive a fixed transparent quote.
- Step 2: Technical Review & Resolution Drafting — We audit financial statements, test Section 100A risks, model distribution outcomes across beneficiaries, and prepare trustee resolutions.
- Step 3: Multi-Entity Electronic Lodgement — We lodge the head entity return and synchronise beneficiary returns directly through the ATO Tax Agent Portal.
Client Reviews and Direct Office Contact
5 out of 5 stars"Kash is a skilled professional with expert knowledge of Territory tax rules. Everything was lodged quickly with zero hassle."
5 out of 5 stars"Super friendly, efficient and good at what they do. Transparent fixed pricing means no nasty surprises when you get your return."
Fixed-price tax returns from $169 · Registered Tax Agents · No surprise hourly fees
Frequently Asked Questions About Trust & Partnership Returns
Essential advice on Section 100A, 30 June trustee resolutions, and corporate beneficiaries.
Why is the 30 June trust distribution resolution critical?
Under Australian tax law, a trust distribution resolution must be formally executed by the trustee in writing on or before 30 June of the financial year. If a valid resolution is not made in time, no beneficiary is made presently entitled, and the trustee may be assessed on the entire net trust income at the highest marginal rate of 47% under Section 99A.
How does ATO Taxation Ruling TR 2022/4 affect Section 100A?
Section 100A is an anti-avoidance integrity rule targeting trust reimbursement agreements where trust entitlements are distributed to lower-bracket beneficiaries (e.g., adult children) while the economic benefit is retained by others. We structure trust distributions strictly within the ATO 'Green Zone' of ordinary commercial or family dealings to eliminate audit risk.
Can a trust distribute income to a corporate beneficiary ('bucket company')?
Yes. Distributing surplus income to a corporate beneficiary caps the tax rate at 25% or 30%. However, under ATO TD 2022/11, any Unpaid Present Entitlement (UPE) that is not physically paid to the company must be managed under a complying Division 7A 7-year loan agreement with annual principal and interest payments.
How are partnership tax returns structured and lodged?
A partnership lodges a partnership return (Form P) showing net business profit or loss. While the partnership itself does not pay tax, net profits are distributed to partners in agreed profit-sharing ratios and declared on their respective personal or corporate returns.