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Tax Administration Act 1994

Information, record-keeping, and returns - Statements, notices, and certificates

32D: Disclosure requirements for purpose of continuity provisions and public unit trusts

You could also call this:

"Telling trustees about people linked to you in a public unit trust"

Illustration for Tax Administration Act 1994

If you are a unit holder in a public unit trust, you must give the trustee a statement when they ask for it. You have to tell the trustee about people associated with you. You must give the statement within 20 working days of the trustee's request. The trustee can trust the statement you give them, unless they have a good reason to think it is not correct. You should know that the trustee is allowed to rely on the information you provide. The statement is assumed to be correct unless the trustee doubts its accuracy.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM351023.

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Part 3Information, record-keeping, and returns
Statements, notices, and certificates

32DDisclosure requirements for purpose of continuity provisions and public unit trusts

  1. On application by a trustee of a public unit trust, the unit holder must provide the trustee with a statement notifying them of persons associated with the unit holder.

  2. Repealed

  3. A unit holder who receives an application must provide the statement no later than 20 working days after the date on which the application is made.

  4. The trustee is entitled to rely on the statement as being correct, and the statement is treated as being correct, unless the trustee has reasonable grounds for believing that the statement provided is not correct.

Notes
  • Section 32D: inserted, on (applying to 2001–02 and subsequent income years), by section 191(1) of the Taxation (Taxpayer Assessment and Miscellaneous Provisions) Act 2001 (2001 No 85).
  • Section 32D heading: amended, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
  • Section 32D(1): replaced, on , by section 102(1) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
  • Section 32D(2): repealed, on , by section 102(2) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
  • Section 32D(3): amended, on , by section 102(3) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
  • Section 32D(3): amended, on , by section 102(4) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).