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Trusts and companies - recording liabilities 043-04090020

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For Complex Assessment Officer (CAO) use only

This document outlines information about the recording of liabilities of a trust or company.

Recording of liabilities

To calculate the attributable assets of a trust or company both the liabilities and the assets of the trust or company need to be recorded. The attributable assets of a trust or company are the gross assets less the allowable liabilities.

The Trust/Company Liabilities (TRLD) screen is used to record the liabilities of a trust or company. Where a liability is recorded on the TRLD screen and a Customer Reference Number (CRN) is recorded on that screen as being the lender or debtor, the liability amount will pass to the customer's record and be assessed as an asset of the customer.

The Resources page contains examples of how to record liabilities for trusts and companies.

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