Minimal Presence New Zealand Trusts: Some Practical and Theoretical Issues
Victoria University of Wellington; Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien; Monash University
FURTHER GLOBAL CHALLENGES IN TAX ADMINISTRATION, pp. 309-329, Margaret McKerchar, Michael Walpole, eds., Fiscal Publications, 2007
Victoria University of Wellington Legal Research Paper No. 30/2012
There is an active but unpublicised industry of New Zealand trustees who look after foreigners’ money. Also, taxpayers from other countries sometimes use New Zealand as a haven. Some trustees for foreign funds have a reasonably substantial presence in New Zealand; others may be single-purpose New Zealand-incorporated companies with nominal capital where the directors are resident abroad and where funds are administered abroad by custodian trustees on behalf of the New Zealand trustee. Issues relating to tax law and trust law arise from trusts that have a relatively minimal presence in New Zealand. The New Zealand legislature recently passed legislation that imposes compliance and reporting requirements on such trusts.
Number of Pages in PDF File: 22
Keywords: Income Tax, Taxation (Depreciation, Payment Dates Alignment, FBT, AMD Miscellaneous Provisions) Bill, Trust Law, Tax Havens, Company Law, Companies as Trustees
JEL Classification: K34Accepted Paper Series
Date posted: May 14, 2010 ; Last revised: July 14, 2012
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