Advanced trusts : (selected topics) by Denham MartinSeries: Continuing Education course paper (NZSA). Publisher: Wellington, New Zealand NZSA 1995Description: 92  p. : ill. 30 cm.ISBN: 0908976682.ISSN: 0113-986X.Subject(s): TRUSTS | TAXATION | TAX PLANNING | TRUSTS
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|CA Course/Conference Paper - NZ||New Zealand||S.447 (Browse shelf)||S.447||Not For Loan||Historical collection: If you would like to borrow this publication please email us.|
INTRODUCTION: Overview ; Contents of Course and Paper ; Key themes being advanced ; KEY QUESTIONS OF PRINCIPLE AND PRACTICE: " Single" or "cross" trust? ; Certainty matters ; Certainty of objects ; Could a trust ever be set aside because it is a sham? ; Interests of discretionary beneficiaries ; Acting as a fiduciary|Trustees ability to prefer particular beneficiaries ; Number and status of trustees ; Power of resettlement ; Giving effect to the settlor's intentions ; Trusts established for recreational purposes ; Trusts established for benevolent, cultural, and philanthropic purposes ; The application of section 61(27) ; TRUSTS FOR ASSET PROTECTION PURPOSES: Overview ; Section 60 of the Property Law Act 1952 ; Other bases for impugning an alienation of assets ; Position of advisers ; Offshore trusts ; Key themes being advanced ; TRADING TRUSTS: Overview ; Description ; Issues arising out of using trading trusts ; Key themes being advanced ; LICENCES TO OCCUPY: Overview ; Objectives ; Legal nature of licence to occupy ; Taxation issues|Non-tax issues ; Mechanics of the arrangement ; Step one - creation of lease for life ; Step two - transfer of reversion to trust ; Key themes being advanced ; MISCELLANEOUS ISSUES: Forgiveness of debt ; Imputation credits ; Marshall clauses ; Associated persons ; New Zealand superannuitant surcharge ; Goods and Services Tax ; Foreign investment fund regime ; Constructive trusts ; Educational trusts ; CONCLUSION
The focus of this Course is on the use of trusts in certain specific commercial, private and taxation situations. In particular, the Course examines the use of trusts for: asset-protection - legitimacy of the trust as an asset-protection device; trading trusts - the advantages and disadvantages of this form of business structure are considered in detail, including the use of corporate trustees; taxation considerations - trusts have always been perceived as creating advantages from a tax minimisation perspective; offshore trusts; and other topical issues such as licences to occupy in conjunction with trusts, and "mirror" compared to "sole" trusts.