A trust (inter vivos) derives $25,000 interest income and $7,000 in a fully franked dividend during the income year 2019/20. What would be the tax result if the trust net income was sought to be distributed according to the following distribution: (a) $18,000, including the franked distribution, to Brian, who is aged 56 and a resident and has no other income, with (b) the remaining amount distributed to Ted, a non-resident.

Question

Quizplus · Accepted Answer

The Answer of A trust (inter vivos) derives $25,000 interest income and $7,000 in a fully franked dividend during the income year 2019/20. What would be the tax result if the trust net income was sought to be distributed according to the following distribution: (a) $18,000, including the franked distribution, to Brian, who is aged 56 and a resident and has no other income, with (b) the remaining amount distributed to Ted, a non-resident.

A Trust (Inter Vivos) Derives $25,000 Interest Income and $7,000