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Family Trust Election, Revocation or Variation (X)

 For information on completing this item click this link to the FTE status and IEE status on the ATO website.

The family trust election, revocation or variation schedule X is valid for the Trust and SMSF forms only.

Only one occurrence of this schedule may be attached to a Trust or SMSF return:

  • For Trust returns the Family Trust election status fields are on the Front Cover of the return.

  • For SMSF returns the Family Trust election status fields are in the Section J: Other Information.

When completing the schedule X the following points should be noted:

  • Section A (the Family Trust Election information), is optional

  • Family Trust Election Revocation, Section B may be lodged without Section A

  • FTEs must be made in the income year in which they have effect and a current year Family Trust Election, revocation or variation schedule must be lodged with the income tax return. The valid codes are E (Election), R (Revocation) and V (Variation).

  • From 1 July 2007 trustees may vary the specified individual of a previously made FTE in accordance with section 272-80 of Schedule 2F of the ITAA 1936. Select the code V (Variation) at the relevant label in the income tax return.

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