The 2021-2022 income year saw new disclosure rules for domestic trusts, requiring trustees to prepare financial statements and provide extra information with their income tax returns.
Trustees need to disclose identification details such as name, date of birth, IRD Number and country of residence of all historical settlors where reasonably available. Make sure you’re up to speed with the requirements.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.
