2019 Trust Tax return

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2019 Trust Tax return

I have a beneficiary of a trust who is 15 years old but has a legal disability. She should be getting taxed at individual income tax rates for the 2019 year. I have used code 25 at V and the applicable tax rate of s98(1) (number 1) on the trust tax estimates (front cover of the tax return).

However no combination of any of these items reduces the tax. It's doing a flat rate of 45% regardless.

How do i fix this?

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MYOB Moderator
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MYOB Moderator
New Zealand
MYOB Moderator

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Re: 2019 Trust Tax return

Hi @Chrisselle 

 

I understand that you have since contacted our phone-based team who have offered their assistance with regards to your enquiry. From my understanding, based on the notes on the account, it is an estimated value based on grouped values and the tax table selected on the return.

Kind regards,
Steven

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