Annual Trust Distribution Minute

Trust Annual Minute
MINUTES OF MEETING OF TRUSTEES/DIRECTORS
Year Ended
Trustee Name(s)
As per the trust deed
Legal Name of Trust
As per the trust deed
ABN of Trust
Leave blank where not applicable
Date of Meeting

DayMonthYear
Date
Held At: (Address of Meeting)

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
PRESENT:
Chairperson present
Full name of person signing the minute as true and correct
Chairperson email
Email address of Chairperson
Other attendees
Name all others in attendance
Period Term from Trust Deed
Ie: Income Period, Accounting Period, Financial Year
Income Term from the Trust Ded
Ie: Income of the Trust, Income of the Trust Fund, Net Income of the Trust Fund
Determination of Income:
Does your deed refer to income for the period being calculated under s95 of the Income Tax Assessment Act 1936/Tax Law and no other altering provisions?

The Trustee has considered the provisions of the Trust Deed. The Trustee intends that this resolution be made before the end of the {periodTerm} ending {yearEnded}.

RESOLVED THAT, in exercise of the powers conferred by the Trust Deed and every other power enabling it, the Trustee determines that, for the {periodTerm} ending {yearEnded}, the {incomeTerm} shall be equal to the net income of the trust estate calculated under section 95 of the Income Tax Assessment Act 1936 and any other applicable taxation law, as finally calculated or determined for taxation purposes for that income year.
Please provide your resolution of income in accordance with your trust deed:
IE: RESOLVED THAT...

Distribution:
RESOLVED THAT, in exercise of the powers conferred by the Trust Deed and every other power enabling it, the Trustee pays, applies or sets aside the whole of the {incomeTerm} for the {periodTerm} ending {yearEnded} to or for the benefit of the following beneficiaries in the following percentages and proportions:

Note: This makes the beneficiary legally entitled to those funds and to avoid future tax consequences, it must be shown that the named beneficiary has ultimately been the recipient of this distribution.
Share of determined income:
RESOLVED THAT, the fixed dollar distributions set out above (if applicable) are to be satisfied first, in the order shown, and the balance of the {incomeTerm}, if any, is to be distributed in accordance with the percentages and proportions set out
above.

RESOLVED THAT, if the {incomeTerm} for the {periodTerm} ending
{yearEnded} is insufficient to satisfy all fixed dollar distributions in full (if applicable), the fixed dollar distributions shall be satisfied in the order shown above, and no Beneficiary shall be entitled to any amount under a later row until the amounts under earlier rows have been satisfied in full.

RESOLVED THAT, the distributions set out above are intended to distribute 100% of the {incomeTerm} for the {periodTerm} ending {yearEnded}.

Difference:
RESOLVED THAT, if the final {incomeTerm} for the {periodTerm} ending {yearEnded} is greater or less than the amount estimated by the Trustee at the date of this resolution, the {incomeTerm} shall nevertheless be distributed in accordance with the percentages and proportions set out in this resolution.
No Income:
RESOLVED THAT, if there is no {incomeTerm} for the {periodTerm} ending {yearEnded}, no Beneficiary shall be presently entitled to any amount under this resolution.
Streaming:
RESOLVED THAT, the Trustee does not make any beneficiary specifically entitled to any capital gain, franked distribution, franking credit or other separate class or category of income for the {periodTerm} ending {yearEnded}.

RESOLVED THAT, the Trustee does not stream or separately allocate any class or category of income, and the whole of the {incomeTerm} is to be distributed in accordance with the percentages and proportions set out in this resolution.
Payments:
RESOLVED THAT, for the avoidance of doubt, in respect of any payments that have actually been made by the Trustee to or for the benefit of any beneficiaries specified above or any other beneficiary of the Trust during the year ending {yearEnded}, the making of the payment did not constitute the making of a Distribution by the Trustee unless the payment was expressly recorded by a resolution of the Trustee as constituting a Distribution, and does not vary the terms of any Distributions made under these resolutions.
Present Entitlement:
RESOLVED THAT, each beneficiary named in this resolution shall have an immediate, vested and indefeasible interest in the amount of {incomeTerm} paid, applied or set aside for that beneficiary upon the making of this resolution.

Is a guardian or appointer consent required?

Which Consent is Required?

The Guardian named below consents to consents to the Trustee making the determinations and resolutions set out in this minute to the extent that such consent is required under the Trust Deed.
Guardian Name
SIGNATURE OF GUARDIAN
The Appointer named below consents to consents to the Trustee making the determinations and resolutions set out in this minute to the extent that such consent is required under the Trust Deed.
Appointer Name
SIGNATURE OF APPOINTER

Closure:
There being no further business the meeting then closed.
SIGNED AS A TRUE RECORD:
SIGNATURE OF CHAIRPERSON
_____________________________________

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Should be Empty:

Trust Annual Minute