Join our investing community

My trust's first tax time

Discussion in 'Accounting, Tax & Legal' started by Glebe, 19th Oct, 2005.

  1. Glebe

    Glebe Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    932
    Location:
    Sydney, NSW
    Hi everyone,

    I haven't done my tax yet, I've been pretty busy with a new job but am going to have it all ready for my accountant (Nick M) this weekend.

    My question is what do I need to provide?

    Throughout the last financial year my trust has issued special income units, invested in managed funds, received some income from managed funds, bought a few books etc.

    I take it I need to send Nick the resolutions that have passed, as well as a managed funds summary?

    Thanks,

    Glebe.
     
  2. NickM

    NickM Co-founder Staff Member

    Joined:
    20th Jun, 2005
    Posts:
    321
    Location:
    Sydney
    Hi Glebe
    yes you need to send me details of all investments & income received.
    Including all your bank statements.

    Basically, if you look at all the deposits and withdrawals in your trust bank account, we will need an explanation of each item.

    We will review your paperwork to ensure it is correct re the units.

    Hope this helps
    Nickm