Transactions with foreign trusts

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...

Presumption Rules – Grantor Trusts

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...

Gift duty repealed by New Zealand Government

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...
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