Section YB 7 — Income Tax Act 2007: Two trustees with common settlor

YB 7 Two trustees with common settlor Association (1) A trustee of a trust and a trustee of another trust are associated persons if the same person is a settlor of both trusts. Treatment of spouses and partners (2) For the purposes of this section, 2 persons who are married, in a civil union, or in a de facto relationship are treated as the same single person. Defined in this Act: associated person , settlor , trustee Section YB 7: substituted, on 1 April 2010, by section 563(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).