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Accessing your payment summary or income statement

Posted by Team AVS on 21 Jan, 2020  0 Comments

How you get your end of financial year information from your employer showing your earnings for the year (also known as a payment summary or income statement) depends on how your employer reports your income, tax and super information to ATO. You will be provided with either:

An income statement – if your employer reports your income, tax and super information to us through Single Touch Payroll (STP) they are no longer required to give you

Trust distributions from a discretionary trust

Posted by Team AVS on 7 Jan, 2020  0 Comments

TRUST

The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the income that flows from the assets. A trust is not a legal entity. It is best described as a legal “relationship” that is controlled by the trustee of the trust under the terms of the trust deed.

 

TRUSTEE

The trustee is the controlling mind of the

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