Description

This webinar considers a number of practical issues that arise with look-through companies, including the look-through company eligibility rules, the calculation of income on conversion of an ordinary company to a look-through company, and the tax treatment of remission of debt.

Other topics covered include the use of look-through companies for cross-border investment, how payments made by a look-through company to a “working owner” are taxed, how to deal with distributions and overdrawn current accounts, and the tax consequences of transferring shares in a look-through company.

The impact of the pending increase in the top personal tax rate on look-through companies will also be considered.

LEARNING OUTCOMES

You will:

• Learn about the criteria for a company to be a look-through company
• Understand what tax implications arise when a company ceases to be a look-through company
• Know how income is calculated on conversion of an ordinary company to a look-through company
• Understand the effect of the increase in the top personal tax rate on the decision whether to convert an ordinary company to a look-through company
• Learn how the debt remission rules apply to look-through companies
• Know when a look-through company can be used for cross border investment
• Understand how the NZ/Australia double tax agreement facilitates the use of look-through companies in a Trans-Tasman context
• Learn when an income tax liability arises on the disposal of interests in a look-through company
• Know the rules concerning working owners, shareholder salaries and fringe benefits tax
• Understand how to deal with distributions and overdrawn current accounts

SUITED TO

Junior, intermediate and senior accountants, and lawyers who advise clients on structuring issues.

PRESENTER

Stephen Tomlinson, Principal, Tomlinson Law