Australian Tax Issues Kiwis Have When Engaging in Succession

This course will focus in detail on a number of highly important Australian tax issues that Kiwi families should understand when seeking to pass wealth to children or relatives who have moved to Australia.

Topics Covered Will Include:

• The operation of Australia’s CGT rules on the gifting of assets to an Australian child or relative.
• The operation of Australian CGT rules on inheritances received from NZ by Australian children or relatives.
• Australian concessional rules that may apply to income of testamentary trusts.
• Australian tax rules regarding penalty tax rates on unearned income of minors.
• The potential Australian tax implications of control of NZ entities passing to an Australian child or relative.
• The implications of Australian children or relatives receiving income distributions from a NZ trust.
• The operation of “section 99B,” which may tax Australian residents on many forms of payments from foreign trusts.

Case Study: Campbell v Commissioner of Taxation – Importance of documentation to prove “corpus” exemption.

Suited To:

• Accountants, tax advisers, lawyers.
• Individuals considering working or investing in Australia.
• Business entities considering expanding into Australia.