Inland Revenue has issued IS 25/18, addressing situations where receipts from foreign trusts and estates are subject to N.Z. income tax. IS 25/18 replaces IS 19/04, issued in 2019, providing further guidance on transactions with foreign trusts and foreign inheritances...
If you’re a U.S. citizen with a foreign trust, take heed of the U.S. tax implications of having your trust. It is nigh on impossible for the trust to be treated as a separate entity for U.S. tax purposes – or that portion of the trust’s assets that...
