Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
HC 2: Obligations of joint trustees for calculating income and providing returns
or “Joint trustees must calculate trust income and report it together”
You could also call this:

“How trustees can manage multiple contributions to a trust as one entity”

If someone sets up a trust and then other people add more money or property to it using the same rules, the person in charge of the trust (called a trustee) can treat all of these additions as if they were part of the original trust. This means the trustee can manage everything as one big trust instead of dealing with each addition separately.

This rule applies to a specific part of the law about how certain groups or organisations are taxed. It’s meant to make things simpler for the trustee when multiple people contribute to the same trust over time.

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 It might be out of date or be missing some parts.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: HC 4: Corpus of trust

or “Property settled on a trust, excluding certain types”
Next

Part H Taxation of certain entities
Trusts

HC 3Multiple settlements

  1. For the purposes of this subpart, if a settlement is made on a trust and further settlements are made on the same terms, a trustee of the trust may treat all the settlements as 1 trust.

Compare