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Trust classification

This category contains 5 posts

The curious story of the Angora cat

Para 438 in the decision of MezhProm Bank v Pugachev refers to a phenomenon in patent law known as the Angora cat problem first identified by Professor Franzosi, an eminent academic expert in the field: “Professor Mario Franzosi likens a patentee to an Angora cat. When validity is challenged, the patentee says his patent is … Continue reading

Taxation of Trusts ed 3

  The taxation of trusts is a dynamic and ever-changing landscape. The third edition of Taxation of Trusts published this week (September 2016) has been up-dated to incorporate recent case law developments and legislative amendments.  The text also considers the application of FATCA to trusts and proposed new reforms to the disclosure rules and closely … Continue reading

Favouring beneficiaries on a lower tax rate

Inland Revenue has issued a QWBA (QB 15/11)  regarding whether a trustee exercising a discretion to distribute trustee income (that would be taxed at the trustee rate of 33% if retained by the trustee) to a beneficiary on a lower tax rate, a beneficiary with tax losses or a beneficiary to whom the income will … Continue reading

Trust Fundamentals Webinar

Trusts are the best long-term intergenerational form of asset protection.  However, as litigation involving trusts increases, questions are reasonably asked regarding the “safety” of trusts.  If you are looing for answers or guidance Vicki Ammundsen is presenting a webinar on February 19th discussing the fundamentals of trusts.  Topics covered by the webinar include: Requirements of a valid trust Differentiation between … Continue reading

Overview of New Zealand Foreign Trusts

In this month’s Offshore Investment magazine Vicki Ammundsen observes how New Zealand foreign trusts are able to minimise taxation in New Zealand due to the design and purpose of the trust rules in the New Zealand income tax legislation.  She explores the legitimacy of New Zealand trustees of foreign trusts and explains how the tax-free … Continue reading