Document background
Trust Meeting Minutes are essential documents used to record meetings and decisions made by trustees in the administration of trusts under Australian law. These minutes serve multiple purposes: they provide a formal record of decisions made, demonstrate compliance with trustee duties, support tax and regulatory reporting requirements, and protect trustees by documenting their decision-making processes. The minutes must be maintained in accordance with various legal requirements, including state-specific Trustee Acts, the Income Tax Assessment Act, and the terms of the trust deed itself. They are particularly important for evidencing key decisions such as distribution resolutions, investment choices, and changes to trust administration. Proper maintenance of Trust Meeting Minutes is crucial for risk management and may be required for audit purposes or if trustee decisions are ever challenged.
