Income Tax Act 2007 section 412G

Nominees etc

Section 412G provides that, for the purposes of the social investment tax relief chapter, transactions carried out through nominees or bare trustees are treated as if they were carried out directly by or to the person on whose behalf they act.

• A loan or payment made by a nominee or bare trustee on behalf of a person is treated as made by that person directly.
• A loan or payment made to a nominee or bare trustee on behalf of a person is treated as made to that person directly.
• A right assigned by or to a nominee or bare trustee for a person is treated as assigned by or to that person directly.
• This look-through treatment applies for all purposes of the social investment tax relief chapter.