The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that Australian residents being entitled to foreign funds is, in many instances, “the new black”. This session will outline the Australian tax issues arising and what you should do, and includes:

• what is a foreign trust or deceased estate;

• receiving a distribution or payment from a foreign trust or deceased estate;

• becoming a trustee, controller, or beneficiary of a foreign trust; and

• distributions or payments from civil law entities – Stiftungen (foundations) and Anstalten (establishments).