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.
ORIGINAL BROADCAST DATE
4 March 2021
- 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
Junior, intermediate and senior accountants, and lawyers who advise clients on structuring issues.
Stephen Tomlinson, Principal, Tomlinson Law