The Modernisation of Trust Administration Systems (MTAS) Webinar was held on Thursday 21 March at 2:00 pm – 3:30 pm AEDT.
The session provided an overview of the Modernisation of Trust Administration Systems project and deliverables, including the technical design, new services and features, and the scope of both Phase 1 and Phase 2 changes.
The key discussion points were:
- Overview of the new Trust Income Schedule (TIS).
- Reporting of distributions to beneficiaries of trusts information for Individual and Non-Individual Tax Returns.
- Updates to the current Trust Income Tax Return for 2024 and onwards to support MTAS.
- Mapping of the Statement of Distribution (SoD) to the Trust Income Schedule (TIS) labels to the ITR and NITR return.
- Nudge Messaging strategy for Individuals.
A recording including the transcript is available in Online Services for DSPs.
For more information, please see: Modernisation of Trust Administration Systems (MTAS) working group.
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