Section CV 13 — Income Tax Act 2007: Amounts derived from trusts

CV 13 Amounts derived from trusts An amount derived by a person is income of the person if it is— (a) beneficiary income to which sections HC 6 (Beneficiary income) and HC 17 (Amounts derived as beneficiary income) apply; or (b) a settlement on trust of property of the kind described in section HC 7(3) (Trustee income); or (c) a taxable distribution from a foreign trust to which section HC 18 (Taxable distributions from foreign trusts) applies. Defined in this Act: amount , beneficiary income , foreign trust , income , settlement , settlor , taxable distribution , trustee income , Compare: 2004 No 35 ss HH 1(7) , HH 3(1)