Recorded Webinar: The Interplay of Residency in Estate Planning: The Individual, the Trust and the Jurisdiction

There is a lot to consider when estate planning involves cross border situations and the tax laws don’t make the task any easier. With the ATO’s increased scrutiny of the flow of funds between countries, it is important practitioners are on top of these rules. This session aims to improve your understanding of the issues, including:

• The individual and determining residency status when:

• entering Australia (TR 98/17;IT 2681)
• leaving Australia and working in other countries (IT 2650; Harding v Commissioner of Taxation [2019] FCAFC 29)
• the recent budget proposed residency rule changes (subject to legislation)

• The trust:

• the definition of a resident trust estate
• the definition of a non-resident trust estate
• the recent budget proposed residency rule changes for trusts (to be legislated)

• The relevant jurisdiction and the workings of double tax agreements
• The CGT implications for an asset that falls under the category “taxable Australian property” (TD 2017/23)
• Implications of section 99B applying including TD 2017/24
• The transferor trust rules
• Worked examples incorporating a combination of the relevant parties having a residency status in Australia and:
  • UK
  • US
  • NZ