This video post outlines the government's new trust disclosure rules: what they are, and who they apply to. The new rules require trusts to make additional disclosures when filing income tax returns unless the trust meets certain exemptions. Non-exempt trusts need to prepare financial statements with a profit loss account and balance sheet, or a statement of financial position. Plus details of any settlements going back to formation, and details of beneficiary distributions. Any key roles that have changed within the trust must also be disclosed annually.
We want to thank you and your team for preparing these accounts for us. We have never been given such a detailed and extensive set of accounts in our lives! We’re very grateful and impressed with the amount of data you and your team have captured, deciphered and presented in such a professional manner. Thanks!
- Al & Michelle, September 2021
Investing in residential property?
If you're investing in residential property, seeking to maximise your ability to succeed and minimise risk, then this is a 'must read'.
Matthew Gilligan provides a fresh look at residential property investment from an experienced investor’s viewpoint. Written in easy to understand language and including many case studies, Matthew explains the ins and outs of successful property investment.