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adtax2(Newbie)Newbie
3 May 2026

I have a family trust that previously held shares for a now closed business.

The trust no longer holds assets, and is simply left open in case we wish to use it in the future.

Last financial year, company dividends were distributed during the closure of the company. Other than this it holds no assets and there has been no activity.


I understand there is an obligation to complete financials and a tax return. Can this be done myself or do I need an accountant to complete?

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YellowPotato(Taxicorn)Taxicorn
4 May 2026

Would be best to see tax agent or ask ATO's technical assistance


Other than this it holds no assets and there has been no activity.

  • Depends on the trust structure/deed?
  • If got a corporate trustee, the ASIC filing fee may be a deduction for the trust so I think it might be a tax loss carried forward


Can this be done myself or do I need an accountant to complete?

  • That would be up to you

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