Item 56 - Choice for resident trustee to be assessed to capital gains on behalf of beneficiaries

Refer to Item 56 Choice for resident trustee to be assessed to capital gains on behalf of beneficiaries on the ATO website.

To complete item 56:

1. Enter or select the Assessment code at label X.
2. Click label Y to open the list of beneficiaries.
3. Highlight and select from those listed or click New to open a blank beneficiary worksheet (xT).
4. In the beneficiary xT worksheet scroll down to label F. At the field below label F ‘Trustee choice to pay capital gains’ enter the amount the trustee is choosing to pay.
5. Close the beneficiary worksheet (xT).
6. The amount at label Y is updated with the change made in the xT.