Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
CW 43: Charitable bequests
or “Money from charitable gifts in wills may be tax-free”
You could also call this:

“Tax exemptions for friendly societies, with some exceptions”

If you are a friendly society, you don’t have to pay tax on most of your income. This is called ‘exempt income’. However, there are two cases where you do have to pay tax:

  1. If you make money from a business that goes beyond just your members.

  2. If you make money from a company that is registered as an insurer under the Accident Insurance Act 1998.

Remember, this only applies to friendly societies. If you’re not sure if you’re a friendly society, you might need to check with someone who knows about these things.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: CW 45: Funeral trusts

or “Tax exemption for employer-managed funeral expense funds”
Next

Part C Income
Exempt income

CW 44Friendly societies

  1. An amount of income derived by a friendly society is exempt income, except to the extent to which the amount is derived from—

  2. a business carried on beyond the membership of the friendly society; or
    1. a company registered as an insurer under the Accident Insurance Act 1998.

      Compare