Income tax – Whether money or property received by New Zealand tax residents from overseas is income from a foreign trust

This interpretation statement considers the income tax treatment of amounts of money or property that New Zealand tax residents receive from a person overseas, including through inheritance. It addresses how to determine whether the person who transfers the money or property is a trustee of a trust and when the resident taxpayer has derived beneficiary income or a taxable distribution from a foreign trust. It updates and replaces IS 19/04: Distributions from foreign trusts.

A fact sheet has also been included.

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