The June 30 trust checklist: 5 things you must do to avoid the 47% tax rate
A quick, practical checklist for trustees.
Bottom line: If you miss your trust distribution resolution by June 30, the trust can be taxed at the top marginal rate. Use this checklist to lock in your distributions and protect the savings. You can model the impact in the tax minimisation simulator.
The five non-negotiables
- Confirm beneficiaries: Check tax brackets and eligibility.
- Draft the resolution: Specify who receives what and why.
- Sign and date before June 30: Late resolutions do not count.
- Prepare beneficiary statements: After year end, document the final allocation.
- Store records: Keep signed resolutions and evidence of distributions.
Common mistakes to avoid
- Leaving distributions to July and backdating.
- Allocating income to ineligible beneficiaries.
- Failing to document why distributions were made.
DIY workflow summary
Keep your records current throughout the year, then spend 15 minutes in June to finalise distributions and store your resolution.
About the author
Written by the Self Managed team with a focus on practical trust compliance.
Last updated
January 2026