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December 1, 2021

When you put in a family trust tax return in the coming year (2022 tax year), more information is going to be required by Inland Revenue:

  • transfers by associated people (generally means relatives of the beneficiaries) to the trust
  • loans between the trust and related parties
  • more details about distributions to beneficiaries
  • more details about any settlements (includes free
    services to the trust and money donated) on the trust
  • information about the power to appoint or dismiss trustees
  • Inland Revenue could ask for information backdated for seven years.
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Chartered Accountants Howick Auckland Chapel Road Blue
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