24 Taxation of Trusts - Pt 2: Distributions and Trustee Tax Rate Change (Webinar Recording)
excl. GST - Broadcast Date: 13 March 2024
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Product Description
Many clients utilise trusts to hold income-earning assets and investments. The Income Tax Act 2007 includes specific rules on how trusts are classified, and on how trust income and distributions are taxed.
The focus of this webinar will be on taxation issues associated with distributions from complying, foreign, and non-complying trusts. It will also consider the impending increase in the trustee tax rate to 39%.
Issues examined will include:
• How are distributions of trust assets treated from an income tax and GST perspective?
• How are distributions from foreign trusts and foreign inheritances taxed?
• What to consider when paying dividends to trusts before the increase in the trustee tax rate?
• What guidance Inland Revenue has provided on what is considers legitimate and illegitimate restructuring of trusts activities in the lead up to the tax rate change
Upon satisfactory completion of this activity you will be able to:
• Understand how distributions from complying, foreign and non-complying trusts are taxed
• Be aware of potential issues around the trustee tax rate change
Total of CPD Hours: 1.25 (1 Hour 15min)
Suited to:
• accountants and lawyers who act for trusts
• accountants and lawyers who are trustees of trusts and want to ensure the trust is meeting its tax obligations.
PRESENTER:
Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia.
Stephen has been practising in tax advisory for over 25 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago.
Stephen is renowned for making complex topics understandable.