The data for trusts only includes trusts and estates that have filed a IR6 income tax return.
The taxable income of estates and trusts must be either allocated to the underlying beneficiaries and taxed at their appropriate tax rate, or it is trustee income and is taxed at the trustee tax rate.
Trustee income is recorded net of trust expenses and losses claimed following a revision to the format of the IR6 return in 2009, grossed up to include any associated imputation credits.
Net business income – income (or loss) earned by the trust or estate from business and rental activities. Prior to 2020 this field also included net rental income from both residential and non-residential properties. From 2020 onwards most residential rental income is separately reported and is no longer included as net business income.
Net residential rental income - is separately available from 2020 onwards. This separate reporting is limited to residential rental properties which are subject to the residential property deduction rules.
Other income – includes all other income (or loss) from other income earning sources, including but not limited to partnerships, estates, trusts, look through companies, Māori Authority distributions, overseas income, and taxable property sales/disposals. This is reported net of trust expenses and losses claimed from previous years (the latter is only available to offset trustee income).