Eight checks
before 30 June.

1. 01

   Election in force

   Confirm the family trust election, its specified income year and the test individual.

2. 02

   Map the family group

   Map the family group for the test individual, including changes from separation, death or remarriage.

3. 03

   Interposed entities

   Check interposed entity elections for every company, trust and partnership that has received a distribution.

4. 04

   Distribution history

   Review distributions and present entitlements from the election year onward, not just recent years.

5. 05

   Revocations and variations

   Check whether any election was revoked or varied, and when.

6. 06

   Outside the group

   Identify any distribution outside the family group and the date the tax became payable.

7. 07

   Remission eligibility

   Assess whether the client can self-review, lodge and pay in full before an audit starts to seek interest remission (up to 80% of the interest until 30 June 2027; the penalty tax itself is not reduced). C12

8. 08

   Document and advise

   Record the review and advise the trustee in writing, including if nothing was found.

A prompt list, not a substitute for professional judgement. The order matters less than covering every point.