Two special sets of rules apply to closely held trusts – the trustee beneficiary (TB) reporting rules and the tax file number (TFN) withholding rules. However, the circumstances when they apply are different. The information provided will help you to quickly work out:
-
whether your trust is one to which either or both sets of rules applies (Part A)
-
which beneficiaries the rules apply to (if they apply to your trust) (Part B).