International Taxation of Trust Income

In International Taxation of Trust Income, Mark Brabazon establishes the study of international taxation of trust income as a globally coherent subject. Covering the international tax settings of Australia, New Zealand, the U.K., and the U.S., and their taxation of grantors/settlors, beneficiaries, trusts, and trust distributions, the book identifies a set of principles and corresponding tax settings that countries may apply to cross-border income derived by, through, or from a trust. It also identifies international mismatches between tax settings and purely domestic design irregularities that cause anomalous double- or non-taxation, and proposes an approach to tax design that recognises the policy functions (including anti-avoidance) of particular rules, the relative priority of different tax claims, the fiscal sovereignty of each country, and the respective roles of national laws and tax treaties. Finally, the book includes consideration of BEPS reforms, including the transparent entity clause of the OECD Model tax treaty.

• Provides the first sustained analysis of international taxation of trust income as an internationally coherent subject
• Enables international trust taxation to be studied as a topic in its own right alongside international taxation of companies and partnerships
• Facilitates a holistic approach to tax planning, analysis and design by practitioners, scholars and administrators
• Proposes tax design solutions to unintended double- and non-taxation