International Taxation of Trust Income Principles, Planning and Design Cambridge Tax Law Series

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 UK, and the US, 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.

Figures; Tables; Preface; Cases; Statutes; Other authorities; Treaties; Abbreviations; Glossary; 1. Introduction; Part I. National Tax Laws: 2. The grantor; 3. The beneficiary; 4. The trust; 5. Distributions; 6. International taxation; Part II. Global Taxation: 7. The international tax order and the interaction of tax laws; 8. Treaties; 9. Conclusions and proposals – taxing the shadow; 10. Appendix: detail of beneficiary attribution and taxation 389; Bibliography; Index.

Mark Brabazon SC is an Australian barrister with over thirty-five years of experience in legal practice and a member of 7 Wentworth Selborne, Sydney. He holds a Ph.D. from the University pf Sydney and B.A. and LL.M. degrees from the University of Queensland. He advises and represents taxpayers and revenue authorities and appears as counsel in tax, equity and commercial disputes at all levels. He also chairs the Council of Law Reporting for New South Wales.