Income tax for trusts and estates

Income tax Dates

MAY 7

AIM instalments are due if you have a March balance date.
MAY 7

Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
MAY 28

AIM instalments are due if you file GST monthly and have a March balance date.

All Income tax dates

Trustees of a trust hold money or property for the benefit of its beneficiaries or for purposes allowed by the law. Estates are a person’s assets after they have died. Both trusts and estates are taxed on the income they generate.

This interpretation statement is a general guide as to how income derived by the trustees of a trust is taxed.

IS 24/01: Taxation of trusts (taxtechnical.ird.govt.nz)

Pages in this section

About trusts and estates People may use a trust to manage property for other people. An estate is the property that belonged to a deceased person at their death.
Trusts and tax residency Describes types of trusts and the New Zealand tax treatment of these.
Income from trusts Trustees and beneficiaries may have to pay income tax on income earned by a trust.
Trust reporting requirements Some trusts are now required to provide more information in their annual income tax return, and we explain how to avoid common errors.
Tax returns for trusts and estates If your trust or estate earns taxable income, you’ll need to file an Estate or trust income tax return ─ IR6.
Ceasing or scaling back your trust If your trust has scaled down or ended its operations, you may like to cease your trust or declare it non-active.

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