When you are reading about the Income Tax Act 2007, you will see the term 'trustee'. For the purposes of section CW 26C, a trustee refers to a group of people who look after a special kind of share scheme for a company's employees. They hold shares on behalf of the employees when there are restrictions in place. This means the trustee acts on the employee's behalf during a certain period.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS32500.

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Topics:

Money and consumer rights > Taxes

CW 26F: Meaning of share, or

"What a share means in the Income Tax Act"

CW 27: Certain income derived by transitional resident, or

"Tax exemption for some foreign income of new residents"

Part CIncome
Exempt income

CW 26GMeaning of trustee

For the purposes of section CW 26C, trustee means a group of persons appointed to administer an exempt ESS of a company that employs an employee, and to hold shares under that scheme on trust for the employee during any period of restriction described in section CW 26C(7).

Notes

Section CW 26G: inserted, on 29 March 2018, by section 35 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).