Although Trust taxation administration and compliance seems simple and straightforward, nothing could be further from the truth.

This course will look at trust disclosures and trustee obligations in an holistic and practical way.

We will cover both the existing Trust disclosure rules and those new disclosures the IRD have indicated will apply for the 2022 year specifically for Complying Trusts.

Before deciding on what obligations there are it is necessary to determine:

1. What is a Trust from a tax perspective? (for example: discretionary, blind, bare and fixed Trusts, Estates and Estate Trusts, constructive Trusts)
2. What is the status or classification of the Trust?
3. Where is the income sourced?
4. Where are the beneficiaries’ resident?

This course will work through these using common examples and will then work through the disclosure obligations, registration requirements, and return filing obligations the trustees have. We will also look at withholding obligations and reporting obligations to the IRD.

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

• Understand whether there is a Trust and what it looks like
• Understand what registration and disclosure obligations there are
• Provide advice and guidance to Trustees on their obligations from a New Zealand tax perspective

1.25 CPD hours

Suited to: Intermediate to senior accountants and lawyers that advise on matters for Trust and Estate clients

PRESENTER

Nola Crafar, Senior Manager, Findex/Crowe

Nola is a Senior Manager for Findex in the Dunedin Tax Team. Nola has been with Findex for over 15 years, where she advises on a wide range of tax matters, including property transactions and property ownership structures, structuring opportunities for businesses including relationship property considerations, providing advice on the tax treatment of transactions for clients and other professional advisory firms and managing Inland Revenue Department queries, disputes and debt relief applications.