Hi, I registered my Family Trust on May 31 2023 and set up a company to act as the corporate trustee on May 17 2023. There were no losses or any profits, do I need to do a tax return this year? I was under the impression I did but the people I hired to do it for me emailed me saying "Upon checking the ATO Portal, you don’t have any tax lodgment due" Thanks
Hello @Stra555,
A trust is required to lodge a tax return unless we inform you otherwise. If you don't see a tax return obligation listed that doesn't mean that you don't have an obligation. It could be that when you lodge in the previous year that you accidently selected the final return box which would have incorrectly removed future lodgements. If the trust still exists and you plan to keep it running then there is a good chance you will need to send in a lodgement.
Hello @Stra555,
A trust is required to lodge a tax return unless we inform you otherwise. If you don't see a tax return obligation listed that doesn't mean that you don't have an obligation. It could be that when you lodge in the previous year that you accidently selected the final return box which would have incorrectly removed future lodgements. If the trust still exists and you plan to keep it running then there is a good chance you will need to send in a lodgement.
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