I have a family trust, what do I need to do?


If you have a family trust now is the time to start thinking about what what the new bill will mean for you and your business. Things to do now:

  • Get your paperwork in order: Document your trust actions carefully (if you don’t already) and make sure they’re accurate.
  • Revisit your succession planning: Talk to us to make sure your succession plans still make sense if this legislation goes through.
  • Review your trust: There might be opportunities to improve your tax structure, reduce your risk profile, and better your family’s financial situation.
  • Know your CRS obligations: New Zealand uses the Common Reporting Standard for the automatic exchange of information (AEOI) to help tackle global tax evasion. This means Reporting New Zealand Financial Institutions (NZFIs) have new IRD obligations, so you’ll need to know if your trust falls into this category.
  • Join us for coffee! A quick, pain-free chat now (about all of the above) could save mountains of paperwork, and headaches, down the track. Give us a call, email or book a meeting time.

Read more:

What changes in the Act will affect my business?

How will the Act change my role as a trustee?

Is a family trust right for me?

What are my responsibilities as a trustee?

Published winter 2018.

Serious about your success?