Network Tasman Trust’s annual distribution to consumers
Each December the Network Tasman Trust makes a tax-free distribution to consumers connected to Network Tasman Limited’s network.
Pre Christmas Distribution to beneficiaries of Network Tasman Trust
As from 4 December 2017 all eligible customers will receive a cheque for their share of a tax-free distribution to beneficiaries from Network Tasman Trust’s accumulated funds. To qualify for the payment, customers must have been connected to the Network Tasman distribution system at midnight on Wednesday 15 November 2017. The total amount to be distributed is approximately $3 million. Most consumers will receive $80.00. Eligible customers will receive a distribution cheque regardless of who their retail power supplier is.
Some customers think if they switch retailer they will no longer get a distribution cheque, but this is not the case as the distribution comes from Network Tasman Trust not the retailer.
To be eligible for the distribution a customer must have a permanent metered connection to Network Tasman’s electricity distribution system as at midnight 15 November 2017. The distribution applies to eligible customers as at this point in time rather than over the past year.
The distributions apply to all eligible customers as at midnight 15 November 2017. In terms of eligibility, all customers must satisfy the following criteria to be eligible for a distribution cheque:
- Not Disconnected
- Meters Not Removed
- Not Vacant
- No Temporary Boxes
- No Streetlights
- No Electric Fences
- Not a Child Account (ie split account not carrying the line charge)
In other words – an eligible customer is as follows:
- The customer responsible for paying the line charge as at midnight 15 November 2017.
- The meters are not removed and the installation is neither disconnected nor vacant.
- This therefore excludes customers in a property with meters removed or where the power has been disconnected prior to midnight 15 November 2017.
- This also excludes customers in installations where the line charge is paid for by another account (so called split accounts or child accounts).
- And finally, it also excludes customers who have requested a final reading to be taken on or before midnight 15 November 2017.
Who is Network Tasman Trust?
Network Tasman Trust is an Electricity Consumer Investment Trust. The Trustees hold shares in Network Tasman Limited in accordance with the Trust Deed.
What is the Network Tasman Trust distribution?
A distribution of surplus accumulated Trust funds.
Where have the accumulated funds come from?
Dividends received prior to 31 March 2017 by the Trust as shareholders of Network Tasman Limited and interest from investments.
How much am I entitled to receive?
Does everyone get the same distribution?
Why can’t I get a credit instead?
Because this is a distribution of accumulated Trust funds and not a credit on the Network Tasman Limited line charge. For further information please telephone the Network Tasman Trust Secretary’s office.
Do I have to pay GST or Income Tax on this payment?
No, this payment is exempt from all taxes.
What name is printed on the cheque?
The account name held with your energy retailer. (Name on the power bill).
If someone has lost their cheque?
We will send a form out for them to complete before we send a new cheque and will cancel the original cheque.
If someone would like to amend the payee of cheque?
They must complete a Request to Amend Payee of Cheque form and return to the Craig Anderson office along with the distribution cheque and some proof that they do in fact pay the power bill at the property i.e. copy of bank statement showing a Direct Debit.
If the name on the cheque is deceased?
To enable us to change the cheque into someone else’s name the holder of the cheque must complete a Request to Amend Payee of Cheque form and return it along with a copy of the death certificate of deceased and the distribution cheque.
I live in Nelson city, do I get a distribution too?
Only customers connected to Network Tasman’s network get a Network Tasman Trust distribution. This includes Stoke, Tahunanui and Atawhai, but not other parts of the city central.
Who is entitled to receive this distribution?
Basically, all permanent metered connections to the Network Tasman distribution system as at midnight on 15 November 2017 are eligible. For further information see the eligibility section on page one or refer to the Network Tasman Trust Secretary’s office.
Will it affect my benefit?
No, it is not income for benefit or tax purposes.
Why isn’t the distribution apportioned or offered on a pro rata basis?
The distribution is provided by Network Tasman Trust at a set point in time and any customers affected eg. by house sales, should make their own apportionment arrangements. For further information, please contact the Network Tasman Trust Secretary’s office.
I sold my house before the cut off date. Will I get a distribution cheque?
Eligible customers whose name is on the power accounts as at the cut-off date will receive a distribution. Any apportionment in these or any other circumstances is the responsibility of the interested parties and not Network Tasman Trust.
Timing and Payment
When do we get our distribution cheque?
Cheques will be/were sent out from Monday 4 December 2017. If you have not received your cheque by the 31 December 2017, please phone 0800-82-78-78 and we will arrange for the Network Tasman Trust Secretary’s office to contact you when their office reopens on 15 January 2018.
How often will we get a distribution cheque?
2017 will be the last year that a distribution cheque is issued. Future distributions from the Trust will be credited onto your power account.
Do I get a choice of a cheque or a credit on my power bill?
No, Network Tasman Trust is making a distribution by cheque only.
What do I do if I didn’t receive my cheque?
If your cheque has not arrived by 31 December 2017, phone 0800-82-78-78 and it will be arranged for the Network Tasman Trust Secretary’s office to contact you when it reopens on 15 January 2018.
Can I use this cheque to pay my power bill?
No, the cheque can only be paid into the bank account of the payee.
Indemnity Forms (PDFs)
For more information
Network Tasman Trust
C/- Craig Anderson Ltd
270A Queen Street, Richmond, Nelson
PO Box 3115, Richmond 7050, Nelson
Telephone: 64 3 544 6179
Fax: 64 3 544 5979