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. Conversely, a company can never own anything in a substantive sense because economically a company is...

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...

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...

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

In 1985 New Zealand had a tax system that taxed corporate profits twice, first in the hands of the company and secondly in the hands of the shareholder, known as the “classical system”. The paper suggests how dividends from capital sources ought to be treated if this double taxation is to...

In 1987, New Zealand taxpayers could avoid tax by establishing foreign corporations in which they held a controlling shareholding in low tax jurisdictions. This avoidance could occur in two ways. First, through using the foreign corporation to intercept passive income, such as interest or...