We had set up a family trust about 10 years back and we have a TFN. However, we have never used this trust or done any transactions during this time. We would like to close it out. We are not sure if this trust is linked to our small side business, but it is causing issues with opening of bank accounts (business accounts etc). We do not have an ABN for this trust. How do we close it out ?
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Check if you will need to fill in a A Family Trust Revocation form and you may close it with the final tax return where there is an option to indicate it is your final tax return.
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Check if you will need to fill in a A Family Trust Revocation form and you may close it with the final tax return where there is an option to indicate it is your final tax return.
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