Description

US citizens/Green Card holders are generally subject to income/social security taxes in the US in the same manner as US tax residents. This webinar will address the compliance issues for New Zealand residents who are US citizens/Green Card holders either by migration to New Zealand or US citizenship/immigration status.

US migration to New Zealand has increased by 50.3% since the 2006 census. The webinar will capture the tax compliance issues of migrants/returning residents from the US. Practical examples will explain how US trusts/US companies, including the New Zealand resident shareholder(s)/trustee(s) or beneficiaries, are taxed, and the limitations of the transitional tax residence exemption. We will also address the impact of the US Grantor Trust Rules for New Zealand resident trustees and/or New Zealand resident grantors.

Emigration to Australia has also significantly increased in recent years. The webinar will give an overview of the risks for New Zealand citizens emigrating to Australia and focus on the steps that should be recommended to migrants before leaving New Zealand.

ORIGINAL BROADCAST DATE

30 July 2024

LEARNING OUTCOMES

The webinar will enable the participants to:

• identify the NZ compliance risks and the impact of the Double Tax Agreement between New Zealand and the United States
• understand the filing/reporting requirements in the US
• advise clients with a US connection.

SUITED TO

Advanced accountants

PRESENTER

Dr Peter Loerscher, Principal, Peter Loerscher International Tax Limited (presenting on behalf of TEO)