Overview
For trusts, a Distribution is a payment made to the Trust Beneficiaries.
In CAS 360, Distributions can be added to Discretionary Trusts.
Navigation
| From the Main Toolbar, go to Trust | |
| Select the Trust from the list. | |
| Select Beneficiaries |
Columns
The default column fields are outlined below.
Additional columns can be added to provide additional information.
| Beneficiaries | Under Beneficiaries, begin typing the Beneficiary's name. CAS 360 will begin searching the Global Contact screen for the contact. |
| Dividends - Franked | Enter the Dividend Income amount |
| Dividends - Unfranked | Enter the Dividend Income amount |
| Gross Interest | Enter the Interest Income amount |
| Other Income | Enter the amount of other Income |
| Total | The total sum of the income amounts entered for the beneficiary. |
To add additional column fields, click in the top right corner.
Users can select from up to 24 tax return component fields outlined in this collapsable section:
- Small Business Income
- Less Other Allowable Trust Deductions
- Discounted Capital Gain (Before Discount)
- Capital Gain Tax (CGT) Concession Amount
- Capital Gain - Indexation Method
- Capital Gain - Other Method
- Net Capital Gain
- Foreign Discounted Capital Gains (Before Discount)
- Foreign Capital Gains - Indexation Method
- Foreign Capital Gains - Other Method
- Assessable Foreign Source Income
- Foreign Income Tax Paid Offset / Credits
- Australian Franking Credits from NZ Company
- Other Net Foreign Source Income
- Tax Exempt Amounts
- Tax Free Amounts
- Tax Deferred Amounts
- AMIT Cost Base Net Increase Amount / Shortfall
- AMIT Cost Base Net Decrease Amount / Excess
- TFN Amounts Withheld
- Corpus Distribution
- Other Expenses
Clicking the icon in each column will reorder the items based on that column's $ or % amount.
Instructions
CAS 360 will display the Add Discretionary Distribution screen.
| Date Declared | Date of the Distribution |
| Currency | The Currency the Distribution is paid in |
| Distribution Type |
Select either $ or % or Free Text. CAS360 will default to your last selected distribution type. |
If selecting Distribution by %, ensure the final Totally Combined % equals 100%
Click to add the beneficiary receiving the distribution
Click to Delete a Beneficiary from the screen
Click or
Forms Prepared
- Declaration of Distribution Minute/Resolution
- Listing of Distribution Paid
- Distribution Statement
Copy previous distributions
If you find yourself having to distributions that are similar to previously issued distributions, save time using the copy distribution feature!
| From the Main Toolbar, go to Trust | |
| Select the Trust from the list. | |
| Select Beneficiaries |
Click
And select Review Distribution
Beside a previously created distribution, click
CAS 360 will now display the Add Discretionary Distribution screen, prefilled with the same details as entered in the previously created distribution.