Post by Sapphire Capital on Jun 25, 2010 21:06:34 GMT 4
The New Zealand Offshore Trust Regime
John Prebble
Victoria University of Wellington; Monash University
International Financial Centre Review, pp. 134-137, 2009
Abstract:
New Zealand is in general a high tax country. It is host to a thriving offshore trust industry established after an amendment to the income tax legislation in 1987. The successor to this amendment is section HC 26(1), which means that where non-residents settle income-producing property on New Zealand resident trustees. New Zealand does not tax the income in the hands of the trustees so long as that income has a foreign source.
John Prebble
Victoria University of Wellington; Monash University
International Financial Centre Review, pp. 134-137, 2009
Abstract:
New Zealand is in general a high tax country. It is host to a thriving offshore trust industry established after an amendment to the income tax legislation in 1987. The successor to this amendment is section HC 26(1), which means that where non-residents settle income-producing property on New Zealand resident trustees. New Zealand does not tax the income in the hands of the trustees so long as that income has a foreign source.
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