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Review Your Trust Deed Regularly
As legislation changes, trust deeds with outdated information can cause significant issues for those in charge. Some issues are avoided by a simple wording amendment, providing it is completed in the right legal form.
New Trust Disclosure Rules
From 1 April 2021, there was a new 39% tax bracket for individuals earning above $180,000. However, the tax rate for income from trusts remains at 33%.