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This webinar considers cross-border taxation issues for trusts.
Key issues addressed include the tax treatment of “dual status trusts” (i.e. trusts that are both “foreign trusts” and “complying trusts”), the tax treatment of distributions from “non-complying trusts” and “foreign trusts”, and the application of the “ordering rules”.
Other cross border tax issues considered 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.
The special disclosure rules that apply to “foreign exemption trusts” with a New Zealand-resident trustee will also be discussed. These include the requirement for “foreign exemption trusts” to register with Inland Revenue, file annual returns and pay registration and filing fees.
