Published on 24 Nov 06
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This paper focusses on tax planning for individuals who migrate from the United Kingdom or New Zealand to Australia, or from Australia to either of those countries. It considers the tax issues that arise where the client controls trusts established in the country of entry or exit:
- determining whether a trust is an Australian resident
- Australian tax consequences of foreign trusts earning income from 'tax haven' countries
- advising a NZ or UK resident client changing residence to Australia of tax consequences for controlled foreign trusts
- advising a client of the Australian tax consequences for a controlled foreign trust if client becomes a non-resident.
Dr Campbell Rankine CTA
Campbell is a Chartered Accountant and
Barrister and Solicitor who specialises in complex taxation and
trust issues. The taxation issues extend to income tax (including
CGT, and the Australian attribution on foreign income), as well as
stamp duties and other indirect taxes. He is a regular presenter to
specialist taxation groups in South Australia and nationally. Current at 21 June 2012
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