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Updates & Case Studies
Trust Webinars 30 August, 2010
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 »
Transition to the 15% GST rate 10 August, 2010
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 »
Below market salary 07 June, 2010
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 and low value imports 01 June, 2010
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 »
Budget 2010 20 May, 2010
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 »
Leaky building help 18 May, 2010
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 »
Corporate trustee warning 21 April, 2010
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 »
Beneficiary Income 25 March, 2010
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 »
What were you thinking when you settled that trust? 28 February, 2010
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 22 January, 2010
"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: A Real-time Benefit For Charitable Giving 22 January, 2010
Payroll-giving came into effect on 7 January 2010. For further information see "Articles"... Read More »
Income splitting - is it for you? 14 December, 2009
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 »
Amended definition of beneficiary income 09 December, 2009
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 »
Elder Law Conference 04 December, 2009
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 »
Amendments to GST Act are under consideration 09 November, 2009
"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 »