23 Trusts and Overseas Beneficiaries (Webinar Recording)
excl. GST - Broadcast Date: 7 September 2023
| Quantity |
Product Description
Many clients utilise trusts to hold income-earning assets and investments. With reopening or borders, more and more beneficiaries may become non-resident, or will at least be living overseas for a period of time. When settling a Trust, or administering a Trust as a Trustee, it is important to bear in mind what impact beneficiaries living overseas may have.
The focus of this webinar will be on taxation issues associated with overseas beneficiaries including:
• Are they or could they become a settlor of the Trust and what could that mean for the Trust?
• What is the source of the income and what income is distribute to them?
• What withholding obligations might arise in terms of distributions made?
• What happens when the beneficiaries become non-resident?
• What happens in non-resident beneficiaries become resident?
• What needs to be considered in terms of Trust Disclosures?
Upon satisfactory completion of this activity you will be able to:
• Understand the impact an overseas beneficiary could have on the Trust itself
• Identify the tax implications of beneficiaries becoming non-resident
• Assist trustees in understanding their options and obligations
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
• accountants and lawyers who act for trusts
• accountants and lawyers who are trustees of trusts and want to understand what needs to be considered in beneficiaries travel overseas or return from overseas.
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.