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Income Tax Act 2007

Taxation of certain entities - Trusts

HC 18: Taxable distributions from foreign trusts

You could also call this:

“Money from foreign trusts that counts as income”

If you receive money from a foreign trust in a given year, and that money is considered a taxable distribution, you need to count it as part of your income. This rule is set out in section CV 13(c) of the Income Tax Act 2007, which talks about money you get from trusts. Remember, this only applies to taxable distributions from foreign trusts, not all money you might receive from trusts.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517302.

Topics:
Money and consumer rights > Taxes
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HC 17: Amounts derived as beneficiary income, or

“Money you receive from trusts and when it counts as your income”

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HC 19: Taxable distributions from non-complying trusts, or

“Money from non-complying trusts is taxed separately”

Part H Taxation of certain entities
Trusts

HC 18Taxable distributions from foreign trusts

  1. An amount that a person derives in an income year as a taxable distribution from a foreign trust is income of the person under section CV 13(c) (Amounts derived from trusts).

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Notes
  • Section HC 18: amended (with effect on 1 April 2008), on (applying for the 2008–09 and later income years), by section 82(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).