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Income Tax Act 2007

Income - Income specific to certain entities

CV 13: Amounts derived from trusts

You could also call this:

“Income you can get from trusts”

You can receive income from trusts in three ways. First, you might get beneficiary income, which is covered by sections HC 6 and HC 17. Second, someone might put property into a trust for you, as described in section HC 7(3). Third, you might get a taxable distribution from a foreign trust, which is explained in section HC 18. If you get money or property from a trust in any of these ways, it counts as income for you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513115.

Topics:
Money and consumer rights > Taxes
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Part C Income
Income specific to certain entities

CV 13Amounts derived from trusts

  1. An amount derived by a person is income of the person if it is—

  2. beneficiary income to which sections HC 6 (Beneficiary income) and HC 17 (Amounts derived as beneficiary income) apply; or
    1. a settlement on trust of property of the kind described in section HC 7(3) (Trustee income); or
      1. a taxable distribution from a foreign trust to which section HC 18 (Taxable distributions from foreign trusts) applies.

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