New Zealand: Guidance on proposed 39% trust tax rate
Inland Revenue released guidance on how it may view certain transactions and restructures that may be affected by proposed 39% trust tax rate
Guidance on proposed 39% trust tax rate
Inland Revenue released high-level guidance [PDF 152 KB] on how it may view certain transactions and restructures that may be affected by the proposed 39% trust tax rate, which was included in the Taxation (Annual Rates for 2023-2024, Multinational Tax, and Remedial Matters) Bill introduced by the prior government in May 2023. Read TaxNewsFlash
The new government has indicated that it will proceed with the 39% trust tax rate change effective from the beginning of the 2024-2025 income year, as originally proposed.
Read a February 2024 report prepared by the KPMG member firm in New Zealand
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