Section CW 54 — Income Tax Act 2007: Foreign-sourced amounts derived by trustees

CW 54 Foreign-sourced amounts derived by trustees To the extent to which section HC 26 (Foreign-sourced amounts: resident trustees) applies to a foreign-sourced amount that a trustee who is resident in New Zealand derives in an income year, the amount is exempt income. Defined in this Act: exempt income , foreign-sourced amount , income year , non-resident , resident in New Zealand , trustee , Compare: 2004 No 35 s HH 4(3B)