How will the ATO view a New Zealand heritage?

Dear Ms. Wise, My father is a New Zealand citizen and has approximately $2 million in residential property, $1 million in commercial property, and $1 million in other investments. These are all New Zealand assets held in a family trust of which my brother and I are trustees and beneficiaries. We are Australian citizens. Although he is 75 years old and healthy, the time will come for Dad to pass on his wealth to us. How will the Australian tax authorities view this transfer? Jason

The wisdom: Tim Lyford, tax services partner at William Buck, says the starting point is to establish and understand the tax residency of all parties, including you, your brother, your father and the trust.

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