Impending Trust Tax Rate Increase to 39%

Possible Tax Savings For You

From 1 April 2024 there are proposed changes to increase the trust tax rate from 33% to 39%, aligning it with the highest personal tax rate.

This adjustment aims to prevent trusts from being used to avoid the current top personal tax rate of 39%  Unlike personal tax, this higher rate applies to all earnings from the first dollar.

Key considerations if you have a trust: 

Contact us if you want specific advice for your situation and we will help work with you to maximise your position.

If you would like to more about these potential changes, PKF Kendons in Wellington have released a webinar which can be viewed here.

Copyright 2024 PKF Dunedin Ltd  Website & Marketing Powered by Oncord