If interpreted in a strict legal sense, beneficial ownership rules in tax treaties would have no effect on conduit companies because companies at law own their property and income beneficially.In consequence, courts and scholars have adopted surrogate tests that they attempt to employ in place...

This paper considers New Zealand's hybrid tax credit system consisting principally of a credit system combined with exemption features in respect of certain classes of income, both of which aim to provide relief to minimise the impact of foreign income being taxed in a foreign jurisdiction as...

Ordinarily, double tax conventions restrict their benefits to residents of the states that are parties. Moreover where a resident of one state claims relief in respect of income derived from the other state, the claimant must ordinarily be “beneficially” entitled to the income in question....

New Zealand has concluded double tax agreements with 24 countries. Double tax conventions are brought into effect by Orders in Council, a form of subordinate legislation. They are also incorporated in legislation by reference under section 294 of the New Zealand Income Tax Act 1976, which states...

Tax treaties that have been concluded by common law countries follow the basic structure, concepts, and language of model tax conventions that were promulgated by the OECD in 1963 and 1977. Thus, clauses from most treaties concluded by most common law countries are equally suitable as...

In the late 1980s New Zealand signaled its intention to pass legislation to prevent resident shareholders from using controlled foreign companies to avoid tax. Controlled foreign companies all operate in a similar fashion. The regimes apply to non-resident companies that are owned or controlled...

A report on the International Tax Workshop of the University of New South Wales Taxation, Business, and Investment Law Centre held in August 1988. An important topic of the conference was the proposed Australian controlled foreign company and foreign trust legislation

A report on a conference organised jointly by the Institute of Policy Studies, Wellington, the Asian Pacific Tax and Investment Centre, Singapore, and the Australian Tax Research Foundation, Sydney. The purpose was to study judicial and legislative anti-avoidance measures and treaty policies in...

In the late 1980s New Zealand undertook a process of adopting a new income tax regime for companies, and in particular for controlled foreign companies. The new rules reflected a change from a classical to an imputation system. The rules were designed to frustrate avoidance deferral that was...