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CV 13: Amounts derived from trusts
or “Income you can get from trusts”
You could also call this:

“Money or items from community trusts may be taxable income”

If you receive money or something of value from a community trust, it might count as income for you. This happens when section HC 21 of the Income Tax Act 2007 applies to the distribution. When this section applies, the amount you get from the community trust becomes part of your income. This means you might need to include it when you’re figuring out your taxes.

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Next up: CV 15: Amounts derived from trusts while person absent from New Zealand

or “Money from trusts may be taxed when you return to NZ after being away”
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Part C Income
Income specific to certain entities

CV 14Distributions from community trusts

  1. To the extent to which section HC 21 (Distributions from community trusts) applies to treat an amount that a community trust distributes to a person as income, the amount is income of the person.

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