Description

As practitioners we deal with people’s personal affairs on a regular basis. On most occasions people do not even consider tax outcomes or consequences but it is surprising how many things are impacted by taxation.

In this course, we will deal with family groups that enter into arrangements between themselves. Often the temptation with such transactions is to consider that because of the closeness of the relationship an informal arrangement between them is acceptable and yet when things go wrong between close groups the consequences are often greater and the fallout wider.

This webinar will look at taxation consequences arising from related party transactions as they apply to individuals/families and trusts, and the things to look out for when assisting clients in putting together arrangements/transactions. In particular, the webinar will look at practical situations relating to, amongst other things, the following:

• Employee relationships and transactions that extend beyond straight employee/employer deals;
• Market rate issues for trusts and the definition of settlor;
• Foreign trust issues around accumulation of income and distribution to beneficiaries;
• Implications of Gifts
• Relationship property issues;
• Transactions between family members and tax based property;
• Land transactions/arrangements complicated by related party/association – including consideration of bank of mum and dad.
• Restructuring ownership considerations

ORIGINAL BROADCAST DATE

21 September 2023

LEARNING OUTCOMES

An understanding of the taxation rules that apply when dealing with relationship property, employer/employee transactions, close family groups and trusts.

SUITED TO

Accountants with a client base that requires regular advice and guidance as to employee/employer transactions, relationship property settlements, close family relationship transactions including use of trusts, and transfer of assets.

Lawyers dealing with relationship property, employer/employee transactions and preparing agreements for sale and purchase of assets for close family groups such as trusts and family members.

PRESENTER

Daniel Gibbons, Partner – Tax Advisory, Findex/Crowe NZ (presenting on behalf of TEO).