News

Trusts paid more than $27 million to preschoolers

Tuesday 27th of June 2000
Discussion documents from the Government on its plans tax trust distributions to minors at 33 per cent show that the move hit thousands of people.

"Trust beneficiary income that is claimed to be income of children is, in substance, often not theirs," Finance Minister Michael Cullen says. "For example, in the 1998 income year about 3,500 children under the age of six received a total of more...

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