Chair
Anthony Grant, Barrister, Paladin Chambers
*Original Content was created in November 2024
Description
Attend and earn 1 CPD hour
* This interactive online recording includes questions and quizzes requiring critical thinking about the topics, so you have no annual limits to the number of points/hours you can claim with this format of learning. Please verify with your CPD rules
Tax Treatment of Distributions from Foreign Estates
Generally, whether a New Zealand resident inheriting assets from a foreign deceased estate is subject to tax depends on whether the beneficiary income or taxable distribution is derived from a trust. However, as assets are transferred across border, it can be tricky to determine when a trust arises. This presentation will cover:
- What constitutes ‘beneficiary income’ or ‘taxable distribution’
- Circumstances resulting in a trust or when a personal representative becomes the role of a trustee
- Analysis of applicable tax rules for distributions of assets derived from a foreign trust
Presented by Jo Giboney, Special Counsel, Duncan Cotterill
Learning Objectives:
- Understand when foreign estate distributions may be taxable in NZ
- Identify trust-related triggers and applicable tax rules
Presenters
Jo Giboney, Special Counsel, Duncan Cotterill
Jo specialises in taxation law working with clients in both the private and public sectors. She advises on the New Zealand tax implications of a wide range of matters including business structures, reorganisations, mergers and acquisitions as well as isolated transactions. Working collaboratively with teams across all our firm’s practice areas, Jo ensures material tax risks are identified, and solutions are recommended in a timely and efficient manner. In addition to tax advisory work, she regularly provides input in relation to transaction documentation and drafting, so that outcomes for clients are optimised from a taxation, as well as commercial perspective. Jo provides bespoke advice for transactions, advising on any legal changes likely to impact particular clients. She obtains binding rulings from Inland Revenue to provide certainty for clients in relation to complex or high-value transactions, and represents clients involved in tax investigations and disputes with Inland Revenue.
Anthony Grant, Barrister, Paladin Chambers
Anthony Grant is a Barrister and advisor on the laws concerning Trusts and Estates. He also acts as a professional Trustee. Anthony is a member of STEP (the international Society of Trust and Estate Practitioners) as well as the Auckland District Law Society’s Trust Law Committee. He regularly appears in the Senior Courts on issues involving Trusts and Estates and writes and speaks extensively on these topics.
