Ayres Legal partner Vicki Ammundsen is presenting a series of 3 webinars on trust matters in September. The topics covered include: current trust matters variation of trusts trustee... Read More »
The Government has announced proposed amendments to the Goods and Services Act 1985 that will assist with the transition to the new 15% rate, which will be effective 1 October 2010. The proposed... Read More »
The Court of Appeal decision in Penny and Hooper considers the circumstances where a below market salary can amount to tax avoidance. In this case the majority of the Court of Appeal found that... Read More »
GST is not charged by Customs on imported goods if the GST payable on any one importation is less than $50. This means that while GST is 12.5%, no GST is charged on goods with a taxable value of... Read More »
The May budget has confirmed the expected personal tax cuts and GST rise. Other features of the budget include: a reduction in the company tax rate to 28% effective 1 April 2010; depreciation... Read More »
The Government has announced a new financial assistance proposal aimed at getting faster help for the owners of leaky homes. The proposal would see the cost of repairs shared between homeowners, City... Read More »
The recent decision in Newmarket Trustees Limited v CIR is a timely reminder of the risks inherent in the appointment of an assetless corporate trustee. In this case the trustee, which had no assets... Read More »
The definition of beneficiary income has changed, with effect from 1 April 2010. The amended definition provides that the period within which income earned by the trust in the previous year can be... Read More »
Intention in the context of trusts is more usually seen in the context of the three certainties. However, the recent decision in Ward v Ward [2009] NZSC 125 regarding an application under s. 182 of... Read More »
"Taxation of Trusts", written by Ayres Legal partner Vicki Ammundsen is now available for purchase from www.cch.co.nz. "Taxation of Trusts" is an essential guide for any trustee. Providing... Read More »
Payroll-giving came into effect on 7 January 2010. For further information see "Articles"... Read More »
The Government has released an issues paper proposing income splitting for couples with children under a tax credit mechanism. Contact a member of the Ayres Legal team if you would like a copy of the... Read More »
The definition of beneficiary income in has been amended with application from the 2009-10 and later income years. The amended definition extends the 6-month period for trustees with a tax agent to... Read More »
Vicki Ammundsen, presented a paper on capacity at the Elder Law Conference held in Christchurch on 26 November. You can e-mail vicki@ayreslegal.co.nz for a copy of that paper.... Read More »
"GST: Accounting for land and other high-value assets - A government discussion document" released on 5 November 2009 proposes a number of changes to the Goods and Services Tax Act 1985. The... Read More »