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Income Tax Act 2007

Income - Excluded income - Fringe benefits

CX 15: Contributions to funeral trusts

You could also call this:

“How employer contributions to funeral savings accounts are treated for tax purposes”

You should know that when your employer puts money into a special fund for funerals, it’s called a fringe benefit. This happens in specific situations that are explained in another part of the law called section CW 45. This section talks about funeral trusts. A funeral trust is a type of savings account that helps pay for funeral expenses in the future.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513362.

Topics:
Money and consumer rights > Taxes
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CX 14: Contributions to sickness, accident, or death benefit funds, or

"Employer payments to health and life insurance funds count as a benefit"

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CX 16: Contributions to life or health insurance, or

"Employer-paid life and health insurance is a job benefit"

Part C Income
Excluded income: Fringe benefits

CX 15Contributions to funeral trusts

  1. A fringe benefit arises when an employer makes a contribution to a fund in the circumstances described in section CW 45 (Funeral trusts).

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