Trusts are a way of life in N.Z. They are quintessentially used for a variety of purposes. Estate planning, asset protection, and wealth management are common examples. Whilst especially so for high-net-worth individuals and their families, trusts have formed part of...
By Gina Gatchell, Director The U.S. Treasury Department and the Internal Revenue Service have issued proposed regulations concerning Sections 643(i), 679, 6039F, 6048 and 6677 of the Internal Revenue Code. These relate to transactions between U.S. persons and non-U.S....
The PFIC regime has been in existence since 1986. Introduced in the Tax Reform Act, the regime closed a loophole. Prior to the change, assets could be transferred to entities organized outside the U.S., in order to escape U.S. taxation. As with other foreign...
In December last year, NZ US Tax Specialists Limited funded 175 native trees for planting through Trees That Count. We were contacted last month and informed that the Nelson Forest and Bird Society is receiving the trees for planting in the region. Being a native of...
Inland Revenue has made a statement today in relation to North Island flooding, which has primarily devastated pockets of its largest city, Auckland. The department advised tax agents that they are aware that many customers have been affected by the event and may need...
Trees That Count – paying it forwards by going back to our roots. We are grateful for your support this year. As a gesture of our gratitude, in December 2022 we donated 175 native trees to Trees That Count, a New Zealand registered charity. Every tree we donate...
