Taxation of Trusts 5th Edition

An essential guide for any trust practitioner or accountant, this book provides a comprehensive overview of how tax law applies to settlors, trustees and beneficiaries.

The 5th edition of Taxation of Trusts has been updated for all tax law changes up to August 2023, including:

• • a comprehensive outline of the disclosure regime and reporting requirements now in place for all New Zealand (domestic) trusts
• • the rollover relief in place for transfers of residential property (for both the bright-line test and the interest limitation rules)
• • Inland Revenue’s position on diverting personal services income by structuring via a trading trust, and
• • Inland Revenue’s statement on the application of the land sale rules to changes in trustees.

Presented in a user-friendly format, the book seeks to answer questions that arise in practice. Each chapter includes relevant legislation for the subject matter covered.

Topics covered include:

• asset and estate-planning considerations for establishing and maintaining trusts
• disclosure and reporting obligations for trusts
• trust administration
• settlors for income tax purposes
• trustee income
• trustees’ liability for tax
• beneficiary income and distributions
• tax consequences that can flow from certain inheritances
• tax avoidance
• classification of trusts for tax purposes
• trust migration and inter-jurisdictional trust considerations
• trading trusts
• dividend stripping
• qualifying and look-through companies
• imputation and RWT credits
• associated persons
• attribution rules
• variation and resettlement
• unit trusts
• charitable trusts