Strafsteuern und Verzugszinsen bei fehlerhafter Endbesteuerung des Trusts

Definition

Australian guidance for winding up a trust requires trustees to identify all assets, realise or transfer them, and "discharge all the liabilities of the trust, including tax liabilities" and in many cases obtain ATO tax clearance before finalising the dissolution.[2][3] If a trustee incorrectly reports capital gains, trust income or distributions in the final year, or fails to lodge the final trust tax return on time, the ATO can impose Failure To Lodge (FTL) penalties and the general interest charge. For small entities, FTL penalties start at one penalty unit (AUD 313 from 1 July 2024) per 28‑day period, up to five periods (AUD 1,565 per late return), and are higher for medium and large entities; interest on unpaid tax runs at the General Interest Charge rate (typically 8–10% p.a.). Logic‑based estimates for a typical family or discretionary trust with property or business assets suggest that mis‑timed or missed CGT on trust termination can easily create AUD 20,000–100,000 of underpaid tax, plus 8–10% p.a. interest and up to AUD 5,000 in FTL and shortfall penalties over several years if the error is discovered only after audit. Even where no underpayment arises, late or incomplete final returns can trigger at least AUD 313–1,565 in penalties per trust.

Why This Matters

The Pitch: Trusts and estates practitioners in Australia 🇦🇺 waste AUD 5,000–30,000 per trust wind‑up on avoidable ATO penalties, interest and rework from incorrect or late final tax reporting. Automation of final accounts, CGT calculations and ATO clearance requests eliminates this risk.

Affected Stakeholders

Trustees, Executor–trustees of deceased estates, Tax agents and accountants, Beneficiaries of discretionary and family trusts, Private client lawyers

Related Business Risks