QUESTION $2\mathrm{.}21($Comprehensive$,$ inter vivos trust$)$

During the $2021/22$ tax year, Porter Chrystan created the Blind Trust, an inter

vivos trust to provide services to his psychiatry practice. The net income of

the trust for the $2021/22$ tax year was $$270,000.$

The trust is to be distributed as follows:

Josh $($aged $43)50\%$

$,$ Marise $($aged $62)10\%$

Scott $($aged $18)15\%$

Barnaby $($aged $17)10\%$

The balance is to be accumulated and applied at the trustee's discretion for

the beneficiaries.

There were two discretionary distributions made:

$$6,000$ was paid towards Barnaby's education.

$$9,000$ was paid to Ford Credit to pay off a debt incurred by Scott who

is currently under medical supervision as he has been pronounced insane.

Barnaby worked at Hillbilly Pizza for $8$ hours per week and derived gross

wages of $$5,000($PAYG tax withheld $$440)$ during the year. He also received

income of $$7,000$ from a deceased estate $($including franking credits of

$$400).$

Prepare a schedule $($covering all beneficiaries$)$ nominating:

Name of the BENEFICIARY

Whether or not the beneficiary is PRESENTLY ENTITLED

Whether or not the beneficiary is under a LEGAL DISABILITY

Which SECTIONS of the Act apply to make the income assessable

WHO IS ASSESSED on each amount

The AMOUNT retained or distributed

Calculate tax payable by the trustee.

Calculate tax payable by Barnaby.