16132 (2025). Rawiri Waititi to the Minister of Revenue

16132 (2025). Rawiri Waititi to the Minister of Revenue: What advice or analysis, if any, has the Minister received since August 2024 on the use of trust and corporate structures for tax minimisation purposes?

Hon Simon Watts: I received advice from officials on the following amendments that were included in the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 and enacted in March 2025: • ensuring that amounts of beneficiary income paid to certain companies is correctly taxed at 39% under the corporate beneficiary rule. • ensuring that foreign tax credits are appropriately calculated when a beneficiary receives foreign-sourced income from a trust. I have not included advice received which is under active consideration.