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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
