Compliance, Legislative & Regulatory Standards
Trust Training Certificate (TTC) (version 2.0) - Unit 11: International Taxation
Overview
This is Unit 11 of the "Trust Training Certificate ("TTC") (version 2.0) training programme".
This eCourse is prepared based on the recorded version of the webinar session held on 28 October 2024. Please note that the examination is based on the study guide and slide deck, which can be downloaded from the eCourse. For participants who plan to take the TTC Part B Stream 1/2 Examination at a later date, you should ensure you read the study guide and materials provided via the examination enrolment link.
It consists of one module:
Module 17: Tax with regard to Trusts, Settlors & Beneficiaries; Taxation of Assets
If you wish to register for the full TTC (version 2.0) Part B Stream 1 Training Programme and Examination, click here.
If you wish to register for the full TTC (version 2.0) Part B Stream 2 Training Programme and Examination, click here.
Objective
On completion of this eCourse, you will be able to understand the following:-
- the general implications for taxation for a settlor or founder when respectively creating a trust or foundation;
- the problems of not carrying out international estate planning during lifetime;
- the general application of taxation for beneficiaries of a trust;
nationality as a trigger for taxation;
- the nature of domicile of origin, of dependency and of choice and of deemd domicile as triggers for taxation;
- the different ways in which residence arises as a trigger for taxation;
- source of income, and capital gains as a trigger for taxation.
- understand the key elements for the taxation of assets by reference to the nature and situs of an asset.
You will also be able to:
- explain how relief from taxation of an asset can arise by reference to the nature of the asset and to the recipient of it; and
- compare such taxation and reliefs across jurisdictions mentioned.
Content
This Module provides for the aspects of international taxation as follows:
1. General application
2. Triggers for taxation
3. Residence of individuals and the tests for this
4. Nature of the asset – situs of the asset – recipient of the asset;
5. Funds – issue for Hong Kong funds;
6. Retirement schemes in Hong Kong;
7. Exemptions and reliefs
Who should attend
This course is primarily designed for individuals who are interested in obtaining the "Trust Training Certificate" to qualify for the Hong Kong Trustees' Association Certified Trust Practitioner™ designation.
It is also relevant for individuals seeking a comprehensive understanding of the course subject matter and those planning to enter the Trust industry sector.
Speaker/Course Instructor
Liza has abundant knowledge in the provision of wealth planning advice to high-net-worth individuals and families, as well as vast experience working with various professional advisers, banks, insurance intermediaries in setting up, administrating and restructuring different types of private trusts, charitable trusts and employee benefits trusts.
Liza has worked for a “Big 4” accounting firm in its Hong Kong, Shanghai and Shenzhen offices specialising in individual income tax. She then joined a renowned bank trustee company where she gained her trust knowledge and experiences in servicing high-net-worth individuals and families from various jurisdictions. Prior to joining ZEDRA, Liza was a senior wealth adviser in one of the world’s largest insurance companies providing wealth planning advice to high-net-worth individuals.
Liza obtained her Bachelor’s Degree majoring in Accounting and MBA in International Management in USA.