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Some clarification pl
Hi all…hope you all doing well ….just trying to get things super clear in my head re trusts so any pointers appreciated…
I have a NR trust from SandE….
1) I know all matters are private, and reporting is not required but just want some clarification so as to keep everything water tight….regarding trust expenses….i am thinking sustenance (i.e. food/shelter/clothing, repairs to any property, trustees productivity of labour are all expenses. is this correct?
2) capital gains….wellits not a registered entity anyway, but all above expenses could be written off against any so called “gains”?
3) lets say u have digital assets in trust….any recommendations on platforms for using these/off ramping i.e. debit cards/exchanges which can be done through trust account.
thanks in advance
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8 Replies
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Where did you get your trust from?
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Hi Morag, from here!
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1) that is correct
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2) that is also correct.
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You as trustee should be able to use digital assets for the sustenance of the trust etc so presumably you would use the digital assets in the trust to purchase something the trust needed for its upkeep? There’s some info about crypto and your trust in this PDF. Just put crypto into the search when you download it.
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Look up swyf in this PDF
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Thank, as always, morag….much appreciated…kia ora y power to u….have a beautiful rest of the week/weekend
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Thank you, you too 🙂
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