Regulatory Impact Statement: A New Trusts Act [pdf, 1.2 MB]
...trusts more than people in comparable countries, with around one trust for every 12 people, compared to one for every 34 Australians and one for every 294 United Kingdom citizens.3 20. Inland Revenue’s data indicates 247,400 income tax returns were filed for trusts or estates for the 2014 fiscal year.4 In the 2013 Census, 215,280 households reported that their home was owned by a trust, although that figure included estates. The IRD figure is unlikely to capture all non-income earning...