Discretionary Tax Return Lodgement -

Discussion in 'Accounting & Tax' started by goponcho__, 23rd Mar, 2018.

Join Australia's most dynamic and respected property investment community
  1. goponcho__

    goponcho__ Well-Known Member

    Joined:
    4th Nov, 2017
    Posts:
    49
    Location:
    Perth
    Hi, quick one.

    Thinking of creating a discretionary trust to debt recycle hold only common shares.

    Am I allowed to lodge the trust's return myself for free? Or must an accountant lodge this?
    Cant find the answer on the ATO site?

    Thanks
     
    goponcho__, 23rd Mar, 2018
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,932
    Location:
    Australia wide
    What does the deed say? There is no legislation which prevents the trustee from doing the return themselves.
     
    Terry_w, 27th Mar, 2018
    #2
  3. goponcho__

    goponcho__ Well-Known Member

    Joined:
    4th Nov, 2017
    Posts:
    49
    Location:
    Perth
    Thanks!
    Havent made the trust yet!
     
    goponcho__, 27th Mar, 2018
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,932
    Location:
    Australia wide
    In that case you can get the lawyer drafting the deed to tailor it to suit your needs
     
    Terry_w, 28th Mar, 2018
    #4
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia