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Do I need to lodge a tax return for the Bare Trust?

In most cases, a Bare Trust itself does not generate income or require the lodgement of a separate tax return. Instead, the income and tax obligations associated with the assets held in the Bare Trust are attributed to the beneficiary of the trust. The beneficiary is responsible for including any income earned from the trust’s assets in their own tax return. It’s essential to consult with a tax professional or legal advisor to ensure compliance with tax regulations and understand any specific reporting requirements related to the Bare Trust.