概要

This eCourse will be accessible from 27 July 2020 to 23 August 2020.

This is Unit 11 of the training programme in pursuing the “Trust Training Certificate”.

This eCourse is developed in relation to the special arrangement for the participants joining the TTC Part B training in June and July 2020. It is prepared based on the recorded version of the last class (face-to-face mode) of Unit 11 done on 21 May 2019. For the participants who will take the TTC Part B Examination in August 2020, you should ensure you read the latest version of study guide and materials provided via the examination enrolment link.

It consists of two modules:
Module 17: Tax with regard to Trusts, Settlors & Beneficiaries
Module 18: Tax with regard to Assets

The two modules are not of equal weight. Therefore, the eCourse is divided into two parts, each of around 1.5 hours long. For each part, you must watch the recorded video and then pass the assessment (with unlimited attempts).

宗旨

On completion of the course, you will be able to:
1. Understand the key elements of where taxation arises
2. Explain these key elements of taxation and the key triggers
3. Be able to compare HK and other key jurisdictions of China, US & UK in regard to tax on settlors and beneficiaries.
4. Explain how residence may affect tax for individuals
5. Understand the key elements impacting where taxation arises on assets
6. Explain the key elements of taxation and the key triggers on assets for various jurisdictions
7. Be able to compare HK and other key jurisdictions of China, US & UK in regard to tax on assets

內容

Module 17: Tax with regard to Trusts, Settlors & Beneficiaries
I. Comparisons between UK, USA and China
1. General application:
(a) Persons involved (Settlor / Founder / Beneficiaries)
(b) Retention of assets and income without IEPS
(c) Transfer of assets to a Trust / Foundation
(d) Future income, benefits and assets derived from the structure
2. The triggers for taxation
(a) Nationality
(b) Domicile
(c) Residence
(d) Source
3. Domicile of origin
(a) Dependency
(b) Choice
(c) Deemed

II. Comparisons between Australia, Canada, France, Singapore, UK and USA
1. Residence of individuals and the tests:
(a) Quantitative (183 days)
(b) Quantitative (over more than one tax year)
(c) Qualitative (connections with the country)
(d) Reverse qualitative (connections with another country)
(e) Mixed qualitative and quantitative

Module 18: Tax with regard to Assets
1. Comparisons between Hong Kong, Australia, Canada, UK and USA
(a) Nature – situs – recipient
(b) Tax and funds – issues for HK funds
(c) Tax and retirement schemes in HK
(d) Exemptions and reliefs:
- Nature of assets / property
- PPR
- Business property
- Agricultural property
(e) Recipient – surviving spouse - charities

對象

The course is primarily targeted to those who would like to pursue “Trust Training Certificate” in order to apply for the Hong Kong Trustees’ Association Certified Trust Practitioner™ designation.

It is also relevant to those who would like to gain a solid understanding of the course subject matter and / or those who plan to enter the Trust industry sector.

 

Special remarks:

The course is NOT eligible for the financial incentive schemes of the WAM Pilot Programme.