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
• Australian tax implications of distributions from NZ trusts to Australian residents, including latest ATO guidance for distributions of trust capital
• Australian deceased estates – how they are taxed and the tax implications for New Zealand beneficiaries

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.

Mark Chapman is the author of Life and Taxes: A Look At Life Through Tax and has edited and updated the second to the seventh editions of Australian Practical Tax Examples, published between 2019 and 2024 by Wolters Kluwer CCH Australia.

He has over 25 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.