Latest articles
Farewell to Gift Duty
Friday, 20 April, 2012
Author: Matthew Peploe
On 29 August 2011, gift duty was abolished. Gift duty has taxed gifts above specified limits for over 125 years. The law change took effect on 1 October. From that date, New Zealanders were able to make gifts of any size without having to pay any duty on the gift.The abolition of gift duty creates new opportunities for the structuring of your personal affairs, particularly if you have a family trust. However, it also creates new risks.
No more gift duty!
Thursday, 9 December, 2010
Author: Simon Ellis
Hang on a minute...
The Government has announced that gift duty will end in October 2011. This will mean that expensive long-term gifting programmes can be ended, and assets moved quickly to trusts or other beneficiaries.
There are various reasons for such transfers, but generally they can be characterised as the protection...
Guarantees - What they mean to you as the Guarantor
Wednesday, 14 July, 2010
Author: Shiree Blackwell
What is a Guarantee
A guarantee is a promise from you that you (the guarantor) will meet the obligations of another party should they default in any arrangement with a third party. They are commonly used by lenders and banks. As guarantor, you agree with the bank that if the borrower...
A Simple Way to Protect Some of Your Assets
Thursday, 1 July, 2010
Author: Matthew Peploe
If you own your business, you need to think about protecting your personal assets from your business risks. Trading through a company and using a family trust are two popular options. Another option is to register your home as a joint family home.
The Joint Family Homes Act 1964 allows married...
Becoming a trustee of a charitable trust
Wednesday, 26 May, 2010
Author: Matthew Peploe
There are over 25,000 charities registered under the Charities Act 2005 in New Zealand with the Charities Commission. Most of these organisations operate as charitable trusts. By their nature, most charitable trusts are dependent for success upon the energy and commitment of their trustees....
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Family Trusts and Asset Protection
Monday, 22 February, 2010
Author: Matthew Peploe
Family trusts are often marketed as a great way to protect family assets. Although trusts can be useful, they are not ‘get-out-of-jail-free’ cards, as Mr Lightbody discovered when his trust was considered by the Supreme Court in Regal Castings Ltd v Lightbody.
Mr Lightbody owned his own jewellery business, Capro Three...
