A practical overview to family trusts and their financial and tax implications

The first question often asked about trusts is "What is a trust?". 

A trust is defined as:

The legal relationship created when a person places assets under the control of a person for the benefit of some other person or people or for a specified purpose"

The second question is often "do I need one"? 

RSM in New Zealand have produced a publication to give you an overview on how trusts are operated and what implications may arise from setting your assets up in this structure. 

The publication covers:

  • What or who is involved in a trust and how?
  • What are the types of trusts?
  • New arrivals in New Zealand
  • What are the benefits of a trust?
  • What assets can be transferred to a trust?
  • Repeal of gift duty
  • Caution needed for gifting
  • The operation of a trust
  • Financial implications
  • Tax implications

The information contained in this document is set out in general terms of basic trust features in New Zealand.  You are advised to seek professional advice before acting on any information contained herein.  No liability will be accepted for any losses incurred by persons relying upon the contents of this commentary. 

Click on the image to read online, or to download your own PDF copy

To find out more about trust administration services offered by RSM, click here