A licensing trust has to pay income tax, rates, and other taxes and duties. You can think of it like a company that makes money, because it has to pay taxes in the same way. It is liable to these taxes because the law says it must pay them, just like a business does, you can find more information by looking at the related law.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3339838.
A licensing trust is liable to income tax, rates, and all other taxes and duties, as if it were a body corporate formed for private pecuniary gain.
