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Where Taxpayers and Advisers Meet

Taxation of a NewZealand property transferred to a New Zealand Trust

rbailey28
Posts:47
Joined:Sat Feb 02, 2013 12:35 pm
Taxation of a NewZealand property transferred to a New Zealand Trust

Postby rbailey28 » Sun Aug 22, 2021 8:49 pm

Hi,

I have owned a property in New Zealand since 1981 and it has been let ever since. It was bought ,as my wife and I had the intention to live in it as a family home when we left Abu Dhabi. We didn't actually leave Abu Dhabi until 1996 and decided to move to the UK instead. What are the CGT, Income Tax and Inheritance Tax implications should I transfer the property into joint names, demolish the house re-develop is as 12 apartments and then transfer it into a New Zealand Trust once demolished ,with my two sons being Trustees and beneficiaries.

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