TR 2022/3
PCG 2022 update — Section 109RB amendments
Div 7A administrative practice updates.
In plain English
This guidance updates Division 7A administrative practices, clarifying how trusts are taxed.
The ATO released PCG 2022 update, TR 2022/3, amending Section 109RB. It clarifies how trusts are taxed. This applies to trustees and those who manage trusts. The guidance explains how to determine if a trust is an 'entity' for tax purposes. It was last revised in 2022.
Why it matters
Trustees need to understand these changes. Incorrectly classifying a trust can lead to incorrect tax calculations. Review your trust arrangements to ensure compliance with the updated guidance.
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