A client has a trust that now only owns a personal home, although previously it had some interest and rental income. We still prepare a set of financials re keeping track of where the funds get used etc. We charge the trust a fee. Is this fee deductible to the trust if there is no taxable activity now?
Read MoreAre there any NZ tax implications for a NZ Trust which makes a capital and final distribution to a non-resident New Zealander who is a beneficiary? The beneficiary is aware that there may be tax consequences for her in her current country of tax residence.
Read MoreTwo trusts are 50% shareholders in an look through company (LTC) each. Can the trust retain their 50% LTC profit or does the profit have to be distributed to an individual (beneficiary)?
Read MoreA deceased individual owned a share in a limited partnership which owned forestry. We are aware that an exemption applies, which allows the transfer to the beneficiaries if they are within the second degree, to be at tax book value. In this case the deceased's children have inheritance trusts (set up as part of the will) which are the beneficiaries of the interests in the limited partnership. Do the inheritance trusts qualify for the exemption?
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