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...
The discretionary trust has traditionally been a popular entity to form in New Zealand for a variety of reasons, including asset protection and estate planning. A discretionary trust provides the trustees of the trust with discretionary powers to make decisions that...
Today the government confirmed that gift duty will be abolished, effective 1 October 2011. The move is yet to be legislated, but the process is expected to commence this month by way of inclusion in a new tax bill. This will be welcomed by private sector NZ, with the...
