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Courses/Accounting & Tax/Estate Taxation

Winding Up a Trust: Tax and GST Implications

Understanding Taxation Issues When Closing Trusts

Created byTEO Training
BeginnerUpdated Jan 17, 2025
Winding Up a Trust: Tax and GST Implications

What You'll Learn

check_circleIdentify key income tax rules for trust distributions.
check_circleUnderstand GST implications of winding up a trust.
check_circleDifferentiate between cash and in-kind distributions.
check_circleRecognize trustee liabilities for tax debts and compliance.

About This Course

Many clients use trusts to hold income-earning assets and investments.When that trust has outlived its purpose or reached the end of its term, it will need to be wound up.

The winding up of a trust may trigger income tax and GST obligations. These may arise from the sale of assets or their distribution to beneficiaries as part of the wind up. The focus of this webinar will be on taxation issues associated with winding up a trust.

Issues examined will include:

  • Income tax rules applying to distributions from trusts.
  • GST rules applying to distributions from trusts.
  • Cash distributions versus in-kind distributions.
  • Potential trustee liability for trust tax debts.
  • Impacts on shareholder continuity, the bright-line test, and depreciation claims.

Upon satisfactory completion of this activity, you will be able to identify potential income tax and GST issues associated with winding up a trust.

Suited to:

  • Accountants and lawyers who act for trusts.
  • Accountants and lawyers who are trustees of trusts and want to ensure the trust is meeting its tax obligations.

Your Instructors

TEO Training
TEO Training
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TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.

Stephen Richards
Stephen Richards

Partner – Tax Advisory, Findex/Crowe

Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia. Stephen has been practising in tax advisory for over 20 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago. Stephen is renowned for making complex topics understandable.

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We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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