The desirability of pre migration Trust 25 Oct 2006
Ross Holmes Trusts Limited
- Making migration work: lessons from New Zealand Migration
- Melissa Taylor Registered nurse from San Diego enjoys her job by the beach Migration
- BYE BYE CULTURAL CRINGE: EXPAT KIWIS CONFIDENT AND CONNECTED WITH HOME Migration
- Finding a job in New Zealand Migration
- The Skilled Migrant Category selection Migration
- The Skilled Migrant Category Migration
- Annual permanent and long-term arrivals up 24 per cent on year ago Living
- Now what have I forgotten? Migration
- Homeward bound: The final countdown Migration
- Wellington – live, work and play Migration
PRE MIGRATION TRUST: For many reasons UK citizens and returning Kiwis are considering a change of life style and heading down to New Zealand for that change. UK citizens have a once only opportunity to gift assets at once to a Trust before you become resident and domiciled in New Zealand.
This opportunity will be lost when you become domiciled in New Zealand.
There is no gift duty in the United Kingdom. Over the last few months use of trusts in the UK has been seriously curtailed in that any personal assets gifted to a trust valued over the nil rate bank of £285,000 per person (£570,000 per couple) will be subject to a lifetime inheritance tax charge of 20% with ongoing periodic charges and exit charges levied on distributions made or imposed at the 10 year anniversary of the trust.
New Zealand does not have these problems it has no inheritance tax or estate duty, stamp duty or land development tax.
The rich accept that trusts are normal. They use trusts as their cornerstone investment ownership vehicle. It is far safer to adopt the methods which the wealthy have successfully used for centuries. By using a trust in New Zealand you can maximise your chances of financial success and security.
New Zealand tax incentives for new migrants
In April 2006 the New Zealand Government amended the 2004 Income Tax Act to provide a new four year exemption on foreign sourced income for new migrants to New Zealand and returning New Zealanders who have been non-resident for tax purposes for 10 years or longer. These persons are now known as "transitional residents". The exemption has been extended to Trusts where a New Zealand Settlor is a transitional resident.
These new rules will provide an exemption from Income Tax to transitional residents for income derived from any country other than New Zealand in the form of dividends, interest, rents and an exemption from the application of the Foreign Investment Fund regime.
The exemption will last for a period of 48 months commencing from the first day of the month in which the individual acquires a "Permanent Place of Abode" in New Zealand". Judicial decisions have held that a "Permanent Place of Abode" is a test considering the strength of the relationship an individual has with New Zealand.
Assets placed into a New Zealand Trust below the nil band for UK Inheritance Tax Purposes will not attract New Zealand Income Tax providing the income is not generated in New Zealand and will not attract the UK 20% Lifetime Inheritance Tax.
More information on New Zealand trusts can be obtained from www.rossholmes.co.nz.
Before considering the move or return to New Zealand we highly recommend that you seek professional advice pertaining to your personal circumstances.
22 Dec 2014 News
New Zealand Government Huge experience on transition advisory board Canterbury Earthquake Recovery Minister Gerry Brownlee has... more
22 Dec 2014 News
Article - Redress Information Top BBC executive publicly endorses key Zionist mantra A senior BBC executive has publicly come... more
22 Dec 2014 Business News
By Suze Metherell Dec. 22 (BusinessDesk) - New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone... more
22 Dec 2014 Entertainment
The Hobbit; The Battle of the Five Armies has topped US$355 million at the international box office after a week on release and a... more
20 Dec 2014 Lifestyle
"Let's do this every Sunday!" was the cry from the thousands of participants in this year's inaugural Ciclovía event on the... more
22 Dec 2014 Property
By Suze Metherell Dec. 22 (BusinessDesk) - Kiwi Property Group, formerly Kiwi Income Property Trust, has agreed to buy Apex Mega... more
22 Dec 2014 Migration
Immigration Minister Michael Woodhouse welcomes new figures showing New Zealand overstayer numbers are at the lowest since 2000. A... more
18 Dec 2014 Travel & Tourism
AirlineRatings.com has announced along with its Airline Excellence Awards its Top Ten airlines for 2015. Heading the list is... more
18 Dec 2014 Travel & Tourism
By Suze Metherell Dec. 18 (BusinessDesk) - Tourism Holdings, the biggest campervan rental company in Australia and New Zealand, has... more
22 Dec 2014 Motor Sport
DECEMBER 23, 2014: The motorcycle road-race season is coming together nicely for Bay of Plenty ace Duncan Hart. The 38-year-old ... more
22 Dec 2014 Opinion
By Gordon Campbell If the government really did have good tidings of great joy you can bet it wouldn’t be strewing them about... more
18 Dec 2014 Column
by Gordon Campbell The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto... more
18 Dec 2014 People
In association with Kea, The New Zealand High Commission and The New Zealand Society, Dream Catchers was launched at New Zealand House... more
8 Dec 2014 People
Wellington, December 8th – At only 15 years old, Auckland student Hunter Williams is the youngest winner of the Inspiring... more
22 Dec 2014 Recruitment
Minister for Disability Issues Nicky Wagner welcomed the release of the ‘Disability and the labour market’ report from ... more