Overview

This is Unit 11 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.

It consists of one module:
Module 17: Tax with regard to Trusts, Settlors & Beneficiaries; Taxation of Assets

For details on the topics to be covered, please refer to the 'Content' section below.

Click the links below to register for the full TTC (Version 2.0) Part B Training Programme and Examination:
- Stream 1
- Stream 2

Objective

At the end of this Module, students will be able to understand the following:-

1. the general implications for taxation for a settlor or founder when respectively creating a trust or foundation;
2. the problems of not carrying out international estate planning during lifetime;
3. the general application of taxation for beneficiaries of a trust;
4. nationality as a trigger for taxation;
5. the nature of domicile of origin, of dependency and of choice and of deemd domicile as triggers for taxation;
6. the different ways in which residence arises as a trigger for taxation; and
7. source of income, and capital gains as a trigger for taxation.
8. understand the key elements for the taxation of assets by reference to the nature and situs of an asset;
9. 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
10. be able to 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.

Financial Incentive Scheme of the WAM Pilot Programme

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).

Click here if you wish to register for full Part B Stream 1 training programme and examination.

Click here if you wish to register for full Part B Stream 2 training programme and examination.