Contents Quilter 3 Introduction ___________________________________________ 4 Trustee act 2000 ________________________________________ 6 Types of trust ___________________________________________ 8 Taxation of trusts ______________________________________ 10 - Bare trusts ______________________________________________________ 10 - Interest in possession (IIP) trusts ____________________________________ 11 - Discretionary trusts _______________________________________________ 12 Trustee reporting ______________________________________ 15 Trust investments ______________________________________ 16 Glossary of terms ______________________________________ 18