The Inland Revenue Department continues to review closely the utilisation of Trusts and the Trust disclosures that are made. The trust tax rate has increased to 39% and the Inland Revenue Department has heralded that it will be looking closely at the behaviours of trustees that may have changed as it relates distributions and income.

This course will look at the trust disclosure rules and trustee obligations in an holistic and practical way using examples where possible.

We will cover both the domestic trust disclosure rules and the foreign exemption trust rules.

As part of deciding on which obligations exist and what rules will apply, it is necessary to consider the following:

1. What is a trust from a tax perspective?
2. What is the status or classification of the trust?
3. Where is the income sourced?
4. Where are the beneficiaries, trustees and settlors tax resident?

This course will look at a number of common examples and work through the disclosure obligations and registration requirements together with return filing obligations on trustees.

Upon satisfactory completion of this activity you will be able to:

• Understand whether there is a trust and the nature of the trust
• Understand what registration and disclosure obligations there might be
• Provide advice and guidance to trustees on their obligations from a New Zealand tax perspective

This course will be suited to:
Intermediate to senior accountants and lawyers that advise on trust and estate matters.

Total CPD Hours: 1.00 (50 mins content + 10 mins Q&A)

PRESENTER:

Nola Crafar, Senior Manager Findex/Crowe
Nola is the senior manager for Findex in Dunedin tax team. She has been with Findex for over 15 years where she advises on a wide range of tax matters including trust disclosures, trust distributions and trust classifications, relationship property considerations, land tax rules amongst other things. She also assists other advisory firms and manages Inland Revenue Department queries.