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LOWTAX
ONSHORE
NEW ZEALAND
INFORMATION: BUSINESS, TAXATION AND INVESTMENT
-
NEW
ZEALAND EMPLOYEE BENEFIT TRUSTS FOR
CORPORATIONS BASED IN THE EMERGING MARKETS
- By Henry Brandts-Giesen TEP, Helmores
Solicitors
The Employee Benefit Trust ("EBT")
concept has been used for a number of
years to provide benefits to company
executives in a manner that can be tax
efficient and otherwise beneficial for
both the employer and the employee.
- NEW
ZEALAND TRUSTS FOR INTERNATIONAL WEALTH
STRUCTURING - By Henry Brandts-Giesen
TEP, Helmores Solicitors
An article examining the unique features
and use of New Zealand foreign trusts
and the fundamentals of New Zealand
trust law.
- DOING BUSINESS
IN NEW ZEALAND - By Mary Swire,
Hong Kong Here
we examine the taxation issues involved
for foreign companies doing business
in New Zealand, and the advantages and
disadvantages of different types of
New Zealand corporation. We also look
at investment incentives available to
encourage foreign direct investment,
and ask just how attractive the New
Zealand investment regime is for multinational
organisations.
- LIVING AND WORKING
IN NEW ZEALAND - THE EXPATRIATE PERSPECTIVE
- By Caroline Maxwell, London In
this article we look at issues involved
in immigration to New Zealand, examining
the different types of visa available
to international expatriates. We also
look at the tax implications of living
and working in New Zealand for both
resident and non-resident expats.
- OUTWARD INVESTMENT
FROM NEW ZEALAND - THE OFFSHORE PERSPECTIVE
- By Jason Gorringe, London In
this article we look at the offshore
opportunities available (or not!) for
New Zealand resident individuals, and
examine some of the anti-avoidance provisions
that have been put in place. We also
look at the international tax planning
opportunities that are still available
to resident multinational companies.
- RECENT AND
PROPOSED NEW ZEALAND TAX REFORMS
- By Caroline Maxwell In
this article, we look at recent tax
reforms affecting New Zealand and resident
multinational business, including the
2008 tax reform package, the changes
to the Controlled Foreign Company regime,
and the introduction of Limited Partnerships.
I own three residentail properties which are being rented and gennerated positive cash flow which I claim personnally. Is there a better way to shelter this investment against taxes. Should I be starting a Property Management business or Holding Company ???? Bob Needs Help
Offshore advice for Canadians is scarce on the internet. No reporting requirement for overseas kept money below CAD 100K per natural persons. No reporting requirement for natural persons owned assets (NO LIMIT in value) provided that such assets are "of personal use", meaning a second home (you can have a second home in many a country for unquestionable reasons), boats, cars, art collections, jewels (however, precious stones and gold coins must be reported).
For moderately wealthy Canadians, offshore gets more complicated and more risky when you go corporate: the Canadian Revenue Agency (CRA) will apply Common Law doctrine + far reaching and complex tax jurisprudence by which a holding vehicle will be deemed resident in Canada no matter it was incorporated outside of Canada. CRA will base their decision on where the beneficiaries are resident, where the assets are located and... where the "mind and control" is resident.
Therefore, it seems that extreme attention must be given to appointing nominee directors, stating irrevocability of who can be appointed to such positions so as not to be deemed possible to change for a canadian resident as director at some point in the future, for offshore vehicles to really hold water for Canadians (I mean for Canadians other than the super-rich). Otherwise CRA will say that you may appoint yourself in the future. Multi-layer structures seem to be inevitable.
Then remain the open question of how to transfer money offshore, what is private enough when it come to transfer money, etc... Promoting offshore vehicles (by local lawyers) in Canada is now discouraged, if not punishable. Voluntary disclosure has gone trendy. Private banking departments of major Canadian banks (the only ones entitled to do the promotion job) are discreet. Usually, a solution is available only through banks, for HNWI (above 1M$), banks will submit a structure proposal to some prominent law firm in order to get some sort of "green light" legal opinion as for tax compliance (can this design fly or not fly).
So what you find in Canada is classical relationship between banks and major law firm, offering costly solutions for super rich but nothing for the "new rich". But even then, multiple TIEAs signed recently begin to give super wealthy Canadians some headaches (but to a much lesser extent than to American citizen because Canada is a rising empire on the map, loaded with natural ressources, with very well capitalized banks (there are only 6 banks) and less endebted folks, doesn't tax on citizenship but upon residency).
The offshore question remains open for worried and overtaxed Canadians: is it better to stay under the "personal use" rule which scope is certainly wide enough for most snowbird investors. Or is it better to "go corporate". For those who need to go corporate, how and where? Any thoughts, experience, advice to share, please feel free. Canadian tax law non-competent, please abstent. Dieffenbaker
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LOWTAX.NET
13/07 
