Trusts

In 2011  The gift duty for dispositions of property under the Estate and Gift Duties Act 1968 was abolished, thus removing the threshold of how much could be gifted in any  year and the requirement to lodge paperwork with the IRD.   Unfortunately, at around the...

Your Guide to Trusts What are the new rules relating to Family Trusts? The Trusts Act 2019, which came into force on 30 January 2021, is the first major Trust law reform in New Zealand in 70 years.  Many of the key changes are aimed at making...

What are Trustees expected to do? Trustees are expected to know the terms of the Trust and act accordingly, act in good faith and for the benefit of the beneficiaries and exercise their powers for a proper purpose.  Unless specified in the Trust Deed, the Act...

From the 1 April 2022 trusts are required to provide more information on their annual returns for 2022 tax year onwards.   These changes apply to all NZ domestic trusts that derives assessable income more than $200 in a year.   If your trust is non-active, for...

In case you have been hiding under a rock for the past few months, there has been significant amount of talk and change as the Government attempts to cool the overheating residential properties market.   As far as the tax world goes, this has all happened...