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 |
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Select the Trust from the list. |
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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 |
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
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 |
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Select the Trust from the list. |
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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.