New Zealand law explained for everyone
The Government Superannuation Fund Authority is treated in a special way for tax purposes. You can think of it like this: imagine the Government Superannuation Fund is a big savings plan that many people put money into for when they retire. Now, the Authority is like the person in charge of looking after this savings plan. When it comes to paying taxes, the government says we should think of the Authority as if it were taking care of a trust. A trust is a way of holding money or property for someone else. So, for tax reasons, the Authority is treated as if it’s looking after the Government Superannuation Fund in the same way someone would look after a trust.
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or “Rules for managing New Zealand's retirement and investment funds”The Government Superannuation Fund Authority is treated for income tax purposes as if the Government Superannuation Fund were a superannuation scheme that is a trust and the Authority the trustee of that scheme.