Trust disclosure information from the 2022 tax year

In December 2020, amendments to the Tax Administration Act 1994 were introduced to increase the disclosure requirements of trusts from the 2022 income tax year. 

The new disclosure requirements were introduced to support the Commissioner of Inland Revenue to assess compliance with the new top personal tax rate of 39% and to assist the Commissioner of Inland Revenue in understanding and monitoring the use of trusts. 

This presentation is a one-off analysis of the 170,000 trusts subject to the new disclosure requirements in the 2022 tax year.

Data used in this presentation was extracted from Inland Revenue systems in June 2023.