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Talk to your accountant about other ways of reducing tax. There may be ways of reducing tax by bringing expenditure from next FY to this FY if done properly- say prepaying interest on an IP loan, if there is a benefit for doing this apart from tax.

I don't know the rules for distributing. But if any of those people aren't named members or beneficiaries of the trust would there be a problem? If you did redistribute then they gave it back, it may affect their tax rates as well. It could even eat up tax refunds due to them. Assuming that...