Tax Returns for Trusts - Part 2 - Zero to Mini Hero 2026

Learn more about trusts, including distribution resolutions, streaming, family trusts and more.

Includes trust tax return demo on Xero Tax.

In this session, we cover:

• Case study recap

• Reading an annual statement from a managed portfolio

• Preparing tax rec & tax return for HOMAR Family Trust, Homer & Marge with case study documents and resources

• Trusts 101

  • What's a trust?

  • How is a trust taxed?

  • What is "income"?

  • Present entitlement

  • Who pays tax?

  • Other considerations

  • Using trust losses

  • Vesting the trust

• Distribution Resolutions & Streaming

• Family Trust Elections (FTE)

  • Pros vs Cons

  • Variation or Revocation of an FTE/IEE