24 Tax Residence - Getting it Right (Webinar Recording)
excl. GST - Broadcast Date: 9 May 2024
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Product Description
A New Zealand Tax Resident is subject to tax in New Zealand on their worldwide income. A Non-Tax Resident is only subject to tax in New Zealand on the income sourced in New Zealand.
Deciding where a person is tax resident, under domestic legislation and under any applicable Double Tax Agreements, is a critical component in determining what tax the person needs to pay in New Zealand, if any.
In this webinar, we will work through the tests, using practical examples to help you and your clients get this right.
Topics include:
• Tax residency tests for individuals and companies under our domestic tax legislation
• Transitional residency and its intricacies
• Considerations for Trusts
• Tax residency and the Double Tax Agreement tie breaker tests
• Differences for GST
Upon satisfactory completion of this activity you will be able to:
• Determine whether an individual is a New Zealand tax resident domestically or not;
• Determine whether a company is a New Zealand tax resident or not;
• Apply the above tests to the various parties to trusts and understand some of the consequences that can arise and elections that may need to be made;
• Understand the application of the transitional resident exemption and some of the common mistakes that occur with this; and
• Apply the tie-breaker tests in double tax agreements.
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
Accountants (foundation, intermediate) preparing tax returns for new or transitional residents and those advising individuals on tax residency issues.
Lawyers, immigration advisors and other professionals dealing with new residents
PRESENTER:
Richard Muth, Senior Manager – Tax Advisory, Findex/Crowe
Richard Muth is an experienced taxation practitioner at Findex / Crowe having more than 10 years of experience with clients ranging from large multinational groups, Australasian groups, New Zealand based SMEs along with high net worth individuals.
A core specialty of Richard’s is helping those who are looking to call New Zealand home understand what this means for them from a tax viewpoint. Richard also helps those looking to take up opportunities overseas understand how New Zealand will or will not tax them while they are away.