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Squirrel68(Newbie)Newbie
5 Oct 2025

A Discretionary Family trust, setup in 2004 after first child in family.


This trust did one share investment, and still holds that asset, but was forgotten about. There has been no events or transactions of any type for 21+ years

  • No income (shares have no dividends, and no capital gains or loss)
  • No distributions of any type
  • No resolutions
  • No tax returns

There was a document from 2015 that ATO had updated the contact details of the trust by adding (still valid) trustee email address, but ATO has never made contact regarding trust.


How to fix this?

Just start being compliant?, or is there need to do something special?

  1. Create a set of accounts for the last 7 years (which are very basic obviously, with no changes other than value of asset)
  2. Create resolutions backdated (nil income, nil distributions) as a record.
  3. Does tax return need to be lodged for FY25 (and earlier years?)

Thanks




232 views
3 replies
232 views
3 replies

All replies

KaraATO(Community Support)Community Support
8 Oct 2025

Hi @Squirrel68,


Every entity that has an active TFN will have a tax return generated every financial year. If there's nothing to report, you have an option to return a non-lodgment advice form.


As there may be up to 21 years of outstanding tax returns under the trust entity, it's best to phone our business line. If there's nothing to report, you can request the outstanding lodgments be finalised using non-lodgment advice forms.


Whenever your details change (like phone number or business/postal address) it’s best you notify us as soon as possible.


You can update your details through:

  • your ATO Online Services for business
  • sending a change of details form into us, or
  • via phone contact.

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Trust with no activity (no income, CG or distributions) requirement for tax returns. | ATO Community