New Zealand's Trusts Act 2019 brings big changes for trustees in 2026. You need clear facts to stay compliant. GST is 15%. The Inland Revenue Department (IRD) will check trust records closely. NZ tax software for business can help you avoid fines. Invoicely is a modern, NZ-built solution. It handles GST, payroll, and financial reports easily.
Key Changes in the NZ Trusts Act 2019 for 2026
Trustees must act more carefully in 2026. Here are the top 3 changes:
- Trust accounts must now include digital asset holdings. Use accounting software for contractors NZ to track them.
- Annual returns must come in by the 31st of July. Late filing costs $100 per day.
- Digital records are mandatory. Cloud accounting software NZ ensures your files are safe.
How NZ Tax Software for Business Helps Trusts
Invoicely helps you meet all Trusts Act rules. Here's how:
1. GST Tracking Made Simple
- Auto-calculate 15% GST on invoices
- Send reminders for July 31 filing deadlines
- Generate instant IRD-compliant reports
2. Expense Tracking for Trust Operations
- Capture all trust expenses digitally
- Match receipts to transactions
- Export full expense history
3. Trust Financial Statements
| Feature | Invoicely | Competitors |
|---|---|---|
| Trust accounting | ✅ Full support | ❌ Limited features |
| Multi-user access | ✅ Yes | ❌ Extra fees |
| Bank sync | ✅ Instant | ❌ Manual entry |
"57% of NZ trusts got warnings in 2025 for poor record-keeping. Use automated accounting software NZ to avoid this."
- IRD Compliance Report 2025
Choose the Right Accounting Software for Your Trust
Not all software handles trust operations well. Here's what to look for:
- Accounting software for tradies NZ with trust accounting features
- Real-time GST tracking
- Easy access for all trustees
Invoicely checks all boxes. It's built for NZ businesses. You get:
- Full trust accounting modules
- Automatic GST calculation
- Multi-user collaboration
"Invoicely users save 12 hours monthly on bookkeeping. Cut costs with affordable accounting software for startups NZ."
- BusinessNZ 2024 Study
Trustee Compliance Checklist for 2026
Use this checklist to stay compliant:
- Update your trust deed by March 2026
- File annual returns by July 31
- Keep digital records for 7 years
- Track all trust income
Why Invoicely Beats Xero/MYOB/QuickBooks
Most big accounting platforms charge extra for trust features. Invoicely includes everything in one package. Get:
- Accounting software for builders NZ with trust modules
- Automated GST returns
- All-in-one platform (accounting + payroll + inventory)
- 24/7 NZ support
Key Takeaways
- Trustees must comply with new 2026 rules
- Use accounting software for freelancers NZ to track GST
- Invoicely is the top choice for trust accounting
- Save time with automated financial reporting
Get started with Invoicely today. Sign up for free. No contracts. No hidden fees.
Frequently Asked Questions
What is the Trusts Act 2019 compliance date?
The full act applies from January 2026. You need to update your trust records by December 2025.
Can I use standard online accounting software NZ for trusts?
Most basic software lacks trust modules. Choose a platform like Invoicely that offers full trust accounting features.
How does the Trusts Act affect GST reporting?
You must track all trust income and pay 15% GST. Use cloud accounting software NZ to auto-calculate and report accurately.
Ready to simplify your business finances?
Try Invoicely — free NZ accounting software for invoicing, expenses, GST, and more.
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