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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Fringe benefits

59E: Fees: regulations and exemption

You could also call this:

"Paying fees for foreign exemption trusts"

Illustration for Tax Administration Act 1994

The Governor-General can make rules about fees for foreign exemption trusts. You need to pay a fee when you apply to register a foreign exemption trust and when you send in an annual return. The rules can say how long the fees apply for. If there are no rules yet, the fee for registering a foreign exemption trust is $270 and the fee for an annual return is $50. These fees include goods and services tax. You do not have to pay the fees if all the trustees for the foreign exemption trust are natural persons and not professional trustees. The rules about fees are secondary legislation, see Part 3 of the Legislation Act 2019 for more information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7127022.

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Part 3Information, record-keeping, and returns
Returns: Fringe benefits

59EFees: regulations and exemption

  1. The Governor-General may from time to time, by Order in Council, make regulations prescribing—

  2. the fee for an application for the registration of a foreign exemption trust:
    1. the fee for an annual return for a foreign exemption trust.

      1. A regulation made under subsection (1) may set out the period for which a fee prescribed by the regulations is to apply.

      2. Until the commencement of the first regulation made under subsection (1),—

      3. the prescribed fee for an application for the registration of a foreign exemption trust is $270 inclusive of goods and services tax:
        1. the prescribed fee for an annual return for a foreign exemption trust and a return year is $50 inclusive of goods and services tax.

          1. Subsection (3) and this subsection are repealed when that first regulation commences.

          2. A trustee for a foreign exemption trust is not required to pay a fee referred to in subsection (1) if each trustee for the foreign exemption trust—

          3. is a natural person; and
            1. is not a professional trustee.

              1. Regulations under subsection (1) are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

              Notes
              • Section 59E: inserted, on , by section 11 of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).
              • Section 59E(1)(a): amended, on , by section 180(1) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(1)(b): amended, on , by section 180(1) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(3)(a): amended, on , by section 180(2) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(3)(b): amended, on , by section 180(2) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(5): amended, on , by section 180(3)(a) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(5): amended, on , by section 180(3)(b) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(5)(b): replaced, on , by section 180(4) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
              • Section 59E(6): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).