Generally
Beneficiary under legal disability — ITAA36 s 98(1) — use Table 1 below
Beneficiary with vested and indefeasible interest — ITAA36 s 98(2) — use Table 1 below
- where a beneficiary under 18 years of age is subject to the minors’ income rules, the trustee will be assessed at the special rates under Div 6AA
Non-resident beneficiary presently entitled — ITAA36 s 98(2A), (3) and (4)
- beneficiary is a company — the trustee is taxed on the beneficiary’s share of net income at the relevant corporate tax rate, ie 30%, or 27.5% for base rate entities
- beneficiary is a natural person and is a prescribed non-resident — use Table 1 below for non-residents
- beneficiary is presently entitled to trust income as trustee of another trust with a non-resident trustee — the trustee of the first trust is taxed at 45%
No beneficiary presently entitled — ITAA36 s 99A — 45%, except where the Commissioner considers that s 99 should apply, and in certain other limited cases
Corporate unit trusts and public trading trusts — 30%
Deceased estate
No beneficiary presently entitled — ITAA36 s 99
- income of a trust estate of a person who died less than three years before the end of the income year — use Table 1 below
- income of a trust estate other than the estate of a person who died less than three years before the end of the year of income:
- resident trust estate — use Table 2 below
- non-resident trust estate — use Table 1 below for non-residents
|
TABLE 1 |
||
| Share of net income | Tax on income | % on excess |
| Resident beneficiary | ||
| $18,200 | Nil | 19% |
| $37,000 | $3,572 | 32.5% |
| $87,000 | $19,822 | 37% |
| $180,000 | $54,232 | 45% |
| Non-resident beneficiary | ||
| Nil | Nil | 32.5% |
|
$87,000 $180,000 |
$28,275 $62,685 |
37% 45% |
|
TABLE 2 |
||
|
Share of net income |
Tax on income | % on excess |
|
$416 |
Nil |
50% |
|
$670 |
$127 |
19%* |
|
$37,000 |
$7,030 |
32.5% |
| $87,000
$180,000 |
$23,280
$57,690 |
37% 45% |
* Income between $670 and $37,000 is taxed at a flat rate of 19%
.