Distributions

Tumunui Distribution Policy Updated 25.05.2021 

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Purpose:  To provide guidelines for the allocation and distribution of Tumunui Lands Trust funds to beneficiaries.

 

Guideline:  The Trustees have the delegated authority to distribute trust funds within the budgeted total allocation as determined each financial year. This policy should be read and followed in conjunction with the grant specific policies.

 

Total annual allocation for Trust distribution                                 $300,000 per annum

 

1. Kaumātua Grants

$200 per beneficial owner who is 60 years of age and over

 

2. Education Grants

Tertiary Education Grants                                                     $50,000.00 per annum

• Year 2                                      $200.00 per successful applicant

• Year 3                                      $300.00 per successful applicant

• Year 4+ (and postgrad)              $500.00 per successful applicant

• PHD                                         $1000.00 per successful applicant    

 

3. Discretionary grants                                                                 $10,000 per annum

The grants include Sports, Cultural, environmental, and social.

 

4. Marae Grants                                                                                       

• Apumoana Marae                                                            $10,000 per annum

• Hurunga Marae                                                                $10,000 per annum

• Te Pakira Marae                                                               $10,000 per annum

 

5. Discretionary Marae Grant

For Marae completing project work                                      $15,000 per annum

 

6. Rotokakahi Board of Control

Annual Support as agreed at AGM 8/05/2021                        $5,000 per annum

 

7. Tangihanga Grant

For Shareholders/Beneficiaries of a Whanau Trust                 $300 Shopping Voucher

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8. Dividend

Where a dividend or grant payable to a beneficiary may be subject to income tax, then that distribution will be paid from tax free reserves subject to there being sufficient tax free reserves available.

 

All payments will be paid to a New Zealand bank account as specified by the applicant

 

All payments must be within the powers of the trustees in the Trust Order

           

 

All Distributions are to be read in conjunction with the specific distribution policies (where applicable).