Understanding Trust Taxation and Disclosures: Practical Guidance for Trustees and Advisors in New Zealand
It has been reported that the IRD has reviewed the data resulting from trust disclosures and has gained insights into how trusts are being used. Of 226,000 IR6 tax returns filed, 204,000 indicated they were required to complete the disclosure requirements.
With the pending increase in the trust tax rate to 39%, IRD will be looking more closely at the behaviours that appear to have changed as they relate to trusts.
This course will look at trust disclosures and trustee obligations in a holistic and practical way.We will cover the trust disclosure rules for Complying (NZ domestic) and Foreign Exemption Trusts.
Before deciding on what obligations there are, it is necessary to determine:
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.
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Suitable for:Â Intermediate to senior accountants and lawyers who advise on matters for trust and estate clients.
TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.
Senior Manager at 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.
