New Zealand Law
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The money is not taxable although any income which you earn from this will be taxable. You will find most institutions like banks will take withholding tax from the income anyway, (they are obliged to do this by tax law). So you can also settle this money into a trust but then you will not have the same freedom to use the money as you may want. You can draw down capital from the money without paying tax however. It is only the income which is taxable, and likely it wont affect your tax situation because of the withholding tax
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