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YB 5: Person and trustee for relative
or “Trustees and relatives of beneficiaries are considered connected for tax purposes”
You could also call this:

“Trustees are connected to trust beneficiaries, except for land-related rules”

A trustee is someone who manages a trust, which is a way to hold money or property for others. If you are a trustee of a trust, you are connected to anyone who gets benefits from that trust or could get benefits in the future. The law sees you as ‘associated persons’.

This rule doesn’t apply when it comes to laws about land. So, if there are special rules about land, this connection between the trustee and the people who benefit doesn’t matter for those rules.

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Next up: YB 7: Two trustees with common settlor

or “Trustees of different trusts created by the same person or their partner are associated”
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Part Y Definitions and related matters
Associated persons and nominees: Table Y1: Associated person rules

YB 6Trustee and beneficiary

  1. A trustee of a trust and a person who has benefited or is eligible to benefit under the trust are associated persons.

  2. This section does not apply for the purposes of the land provisions.

Notes
  • Section YB 6: substituted, on , by section 563(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).