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  STY (inter vivos) trust derived $25,000 of interest income and...

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  STY (inter vivos) trust derived $25,000 of interest income and...

 

STY (inter vivos) trust derived $25,000 of interest income and $7,000 in a fully franked dividends during the income year 2020/21.

 

The net trust income was distributed accordingly to the following beneficiaries:

(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 44 year- old non-resident.

 

Required:

 

Calculate the s. 95 net income of the trust and the tax implications for Brian and Ted citing relevant legislation to support your answer

Answer & Explanation

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Answered by HighnessExplorationSalmon11 on coursehero.com

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Step-by-step explanation

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