All Topics / Legal & Accounting / Offshore Trusts

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  • Profile photo of kiwinozkiwinoz
    Member
    @kiwinoz
    Join Date: 2006
    Post Count: 12
    September 7, 2006 - 11:35 am

    Hi everyone

    I’m a New Zealander living and working in Australia, but I’m looking at buying my first IP in NZ, under a trust structure, hoping to pay no capital gains.

    But I’m a bit confused as to whether I will need to set up a trust here in Oz or in NZ, or both? As I have been working in Australia as a resident for taxation purposes, and Australians are taxed on their international income, will any capital gain or income I make on my New`Zealand property be taxed in Australia, or because I am a New`Zealander will there be no capital gains tax on my NZ property?

    Any clarification would be greatly appreciated. Or if anyone knows of a good accountant with offshore investing experience, that would also be great.

    Thanks

    Profile photo of tammytammy
    Member
    @tammy
    Join Date: 2005
    Post Count: 155
    September 8, 2006 - 1:40 pm

    I strongly suggest you speak to your accountant. In the meantime do a search for off shore trusts on the ATO website. You will find various rulings relating to this citing penalties for knowingly setting up trusts/companies for the purposes of tax avoidance. You mat get away with it……and then you may not!!!!!!

Viewing 2 posts - 1 through 2 (of 2 total)

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