1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

Description

New rules have recently been enacted for foreign trusts with a New Zealand-resident trustee. These include requirements for New Zealand foreign trusts to register with Inland Revenue, file annual returns and pay registration and filing fees.

Other cross border tax issues relating to trusts include retaining complying trust status when settlors cease to be New Zealand tax resident, obtaining complying trust status when settlors become New Zealand tax resident, the effect of changes in tax residence status of trustees and beneficiaries, and the impact of the transitional residence rules.

This webinar is intended to help professional advisers know what they can do to ensure that their clients’ trust structures remain tax efficient, and what disclosure and other obligations they must comply with.

LEARNING OUTCOMES

You will:

  •  Understand the difference between “complying trusts”, “foreign trusts” and “non-complying trusts”
  •  Learn how a trust can retain its “complying trust” status when a settlor ceases to be New Zealand tax resident
  •  Know how a “foreign trust” can become a “complying trust” when a settlor becomes New Zealand tax resident
  •  Understand what tax implications can arise where trustees and beneficiaries change their tax residence status
  •  Learn how the transitional residence rules interface with the rules for taxing trusts
  •  Know about the recently-enacted registration and disclosure rules for foreign trusts with a New Zealand tax resident trustee

DATE OF ORIGINAL BROADCAST

18 May 2017

 

SUITED TO

Accountants of all levels, tax lawyers, trust lawyers and others who act as trustee of clients’ trusts.

PRESENTER

Stephen Tomlinson, Partner, Tomlinson Law