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Income Tax Act 2007

Definitions and related matters - Associated persons and nominees - Table Y1: Associated person rules

YB 8: Trustee and settlor

You could also call this:

"When you set up and manage a trust, there are special tax rules."

Illustration for Income Tax Act 2007

You are a trustee of a trust and a settlor of the trust, so you are associated persons. This rule does not apply if the trust is a charitable trust. You can find more information about changes to this rule in the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1523014.

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Topics:
Money and consumer rights > Taxes
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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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YB 9: Settlor and beneficiary, or

"Trust creators and their beneficiaries are considered connected"

Part YDefinitions and related matters
Associated persons and nominees: Table Y1: Associated person rules

YB 8Trustee and settlor

  1. A trustee of a trust and a settlor of the trust are associated persons.

  2. This section does not apply if the trust is a charitable trust.

Notes
  • Section YB 8: substituted, on , by section 563(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).