Does A NZ discretionary trust pay Capital gains taxto the ATO on properties sold in Australia .
Is there a tax credit of sorts when this is declared to the inland revenue dept
Also if income of 20000 is generated in OZ then tax is about29%
whilst in NZ its about19%.
The additonal tax payed in oz is uesd as a tax credit in NZ once a distribution is made.......RIGHT?
Is there a tax credit of sorts when this is declared to the inland revenue dept
Also if income of 20000 is generated in OZ then tax is about29%
whilst in NZ its about19%.
The additonal tax payed in oz is uesd as a tax credit in NZ once a distribution is made.......RIGHT?
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