Network Tasman Trust’s annual distribution to consumers
In September 2020 the Network Tasman Trust will make a tax and GST free distribution to consumers connected to Network Tasman Limited’s network.
After many years of posting out cheques to our beneficiaries, we now pay this money to you as a credit on your power bill.
PLEASE NOTE: IF YOU HAVE A CHEQUE LESS THAN 5 YEARS OLD, PLEASE CONTACT ALICIA ON 03 544 6179 OR AT email@example.com AND SHE WILL ARRANGE FOR THE CHEQUE TO BE RE-ISSUED.
In September/October 2020, all eligible customers will receive a credit on their power bill 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 Monday 21 September 2020. The total amount to be distributed is approximately $4.5 million. Most consumers will receive $110.00. Eligible customers will receive this credit regardless of who their retail power supplier is.
Some customers think if they switch retailer they will no longer get a distribution credit, 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 21 September 2020. The distribution applies to eligible customers as at this point in time rather than over the past year. Check if you are eligible here.
The distribution applies to all eligible customers as at midnight 21 September 2020. In terms of eligibility, all customers must satisfy the following criteria to be eligible:
- 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 21 September 2020.
- 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 21 September 2020.
- 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 21 September 2020.
If you have not received this credit by your November account and believe you are eligible, please contact: 0800 827 878
Frequently Asked Questions
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 2020 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?
Do I have to pay GST or Income Tax on this payment?
No, this payment is exempt from all taxes.
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 21 September 2020 are eligible. For further information see the eligibility section 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?
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 credit?
Most people will receive their credit on their December bill before Christmas. But this will depend on your billing cycle.
How often will we get a distribution credit?
At present the Trust is making a distribution credit annually.
Do I get a choice of a cheque or a credit on my power bill?
No, Network Tasman Trust is making a distribution by credit on your power bill only.
What do I do if I didn’t receive my credit?
If you have not received this credit by your November account, please phone 0800 827 878 and it will be arranged for the Network Tasman Trust Secretary’s office to contact you.
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