The concept of a family trust and family trust elections (FTE) were introduced as part of the trust loss provisions in the 1936 Act, and were first applied in the 1995 tax year.
Since then, Treasury and the ATO have made a number of amendments to make it a condition of trustees accessing concessions in the Acts that the trustee has lodged an FTE.1
In this guide to trust loss provisions and family trust elections we look at a range of issues, including:
- why a trustee may need to make a family trust election
- tests for fixed and non-fixed trusts
- family trust distribution tax
- family trust elections
- distribution of income or capital.
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