When investing offshore, unless this is in a tax haven, taxpayers are likely to incur foreign tax. When returning the income in NZ, it is important to ensure that the maximum foreign tax credit available is claimed to mitigate any double taxation. The amount of the claim will be dictated by a number of factors including the nature of the income and whether a Double Tax Agreement applies.

With the introduction of the IR 1261, the Inland Revenue have indicated they will be focusing on Foreign Tax credits from an audit perspective therefore it is imperative to ensure they are being claimed correctly. This course will cover off what a foreign tax credit is, limitations in relation to these and different scenarios of when they can be claimed.

Upon satisfactory completion of this course, you will be able to:

• Determine what a foreign tax credit is
• Help to determine how much and when they can be claimed
• Outline limitations and the impact of Double Tax Agreements
• Explain specific issues e.g. US transparent entities
• Understand the type of information required to support a claim

This course will be suited to accountants and tax advisors at an entry to intermediate level.

Total CPD Hours: 1.25 (1 hour 15 min)

PRESENTERS:

Marilyn Maloney, Senior Manager – Tax Advisory, Findex/Crowe
Marilyn Maloney is a Senior Manager of Tax Advisory for Findex/Crowe, the largest accounting firm in New Zealand specialising in the SME/HNWI space. Marilyn has been practising in tax advisory for 16 years. Marilyn’s background includes working for Inland Revenue for 15 years and assisting clients as a Client Manager for 7 years. She provides practical tax advice in all areas of tax.