With the increase in the trust tax rate to 39%, the IRD is likely to be reviewing trustee behaviour more closely. We are also seeing many leave New Zealand due to the cost-of-living crisis.

That is likely to give rise to a greater number of overseas beneficiaries being part of New Zealand trusts. 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 distributed to them?
• What withholding obligations might arise in terms of distributions made?
• What happens when the beneficiaries become non-resident?
• What happens if non-resident beneficiaries become resident?
• What needs to be considered in terms of trust disclosures?

Suitable for:

• Accountants and lawyers who act for trusts
• Accountants and lawyers who are trustees of trusts and want to understand what needs to be considered if beneficiaries travel overseas or return from overseas.