Description

A guide to the application of Australian tax law to Australian and New Zealand trusts, their trustees and beneficiaries

With thousands of Australians and New Zealanders working, living and building family links across the Tasman, it is very easy for Australian tax to become an issue.

Australian tax law in relation to trusts can be exceptionally complicated and when residency issues are thrown into the mix, the level of complexity is enhanced, with potential traps for New Zealand resident beneficiaries, New Zealanders living in Australia and Australians who are beneficiaries of New Zealand trusts.

This webinar will discuss how Australian tax law can impact both Australian and New Zealand trusts, their trustees and beneficiaries. Amongst the topics to be covered will be:

• Brief overview of Australian residency rules for individuals such as beneficiaries and trustees
• When is a trust Australian resident?
• Dual resident trusts – how are they treated?
• Types of Australian trusts
• Overview of Australian trust taxation rules, including review of how non-resident beneficiaries of Australian trusts are normally treated
• Australia tax implications of distributions from NZ trusts to Australian residents
• Australian deceased estates – how they are taxed and the tax implications for New Zealand beneficiaries

ORIGINAL BROADCAST DATE

13 March 2024

LEARNING OUTCOMES

Attendees will gain an understanding of how Australian tax law treats trusts and their beneficiaries, both Australian resident ones and New Zealand resident ones. The knowledge gained can then be taken back to the office to be applied to your present and future clients who find themselves or their families exposed to Australian trust tax issues.

SUITED TO

New Zealand tax and legal practitioners dealing with Australian trust taxation issues for New Zealand clients.

PRESENTER

Mark Chapman, Director of Tax, H&R Block Australia.