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CD 30: Transfer by unit trust of legal interest after beneficial interest vests
or “Unit trust transfers legal ownership without additional tax on previously taxed dividends”
You could also call this:

“Special rules for companies that let shareholders live in their properties”

If you own shares in a flat-owning company, you might get to use a specific house or flat that the company owns. This is not considered a dividend.

A flat-owning company is a special kind of company. Its rules say that if you’re a shareholder, you get to use a specific house or flat in New Zealand that the company owns. These companies usually only own houses or flats for their shareholders to use, and they keep some money to pay for running the company.

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Next up: CD 32: Employee benefits

or “Benefits from employers that aren't counted as dividends”
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Part C Income
Income from equity

CD 31Flat-owning companies

  1. If a flat-owning company makes residential property available to a person, that is not a dividend.

  2. In this section, flat-owning company means a company—

  3. whose constitution provides that every registered shareholder is entitled to the use of a specific residential property in New Zealand owned by the company; and
    1. whose only significant assets are residential properties available for use by specific shareholders and funds reserved for meeting the company’s costs.

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