Income tax: can a trustee quote the trust tax file number (TFN) to an investment body when an investment of the trust estate is held in the trustee's name?

Yes. Section 202DB of the Income Tax Assessment Act 1936 allows a person making an investment to quote a TFN. If the person making the investment does so in the capacity of a trustee of a trust estate, the trust TFN may be quoted.

Subsection 202D(6) clarifies that a person may quote the trust TFN even if there is nothing in the name of the investment indicating that the investment is held by the person in the capacity of a trustee. Example John Wong is the trustee of the Wong Family Trust and in his capacity as trustee for the trust invests $1,000 in a bank account in the name of John Wong. As the investment was made by John Wong in his capacity as trustee (and not simply as an individual in his own right), the TFN of the Wong Family Trust may be quoted. Note: Guidelines relating to investments held by solicitors are contained in Taxation Ruling IT 2649.