Set a trust or estate type

Overview

To ensure that the IR6 income tax return is calculated correctly, the appropriate trust or estate type in TaxLab needs to be selected. This determines which tax rate is applied.

There are 6 options to choose from:

• Complying trust
• Complying trust - Deceased estate
• Complying trust - Disabled beneficiary trust
• Complying trust - Energy consumer trust
• Foreign trust
• Non-complying trust

Set the trust or estate type

1. From the entity’s tax year summary, in the navigation bar, select Reports > Tax return forms > Income Tax Return (IR6). 
2. In the Details tab > Scroll to the Additional information section.
3. In the Select the type of estate or trust field, choose the applicable type from the dropdown list. 

ℹ️ Info: The selected trust or estate type determines how income is taxed and what information must be disclosed in the IR6.

Deceased estate

If the IR6 is for a deceased estate, you also need to set the income year of death. This is required to ensure the correct tax rate is applied.

1. Follow the steps above to access the Additional information section in the IR6 return.
2. In the Select the type of estate or trust field, select Complying trust - Deceased estate.
3. In the Income year of death field, enter the correct tax year in which the individual passed away.

⚠️ Warning: If you do not set the income year of death, the system won’t apply the correct tax rate. 

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Finalise an income tax return