Recently, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. It’s one of the most significant developments for the taxation of trusts in over two decades.

As a result of these ATO proposed changes, options to spread trust income across family members and corporate beneficiaries may be vastly limited and some family groups may need to plan for higher tax in the future.

In this edition we answer your questions about Director ID's and provide a quick guide to help you apply.

MyGovID is your digital identity to unlock participating government online services.

A MyGovID is required for individuals who are applying for Director ID's or businesses wanting to access ATO Online Services