Trust Reforms

Trusts are a popular way of protecting property and managing assets in New Zealand. The number of trusts we have in New Zealand is unknown, but estimates put the figure between 300,000 and 500,000. The legislation governing NZ trusts has remained unchanged for decades as it has been predominantly governed by the Trustee Act 1956. …

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May tax Bill

In May 2016, the Government introduced the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Bill (the Bill). Some of the key changes proposed in the Bill are outlined below. Tainted capital gains Capital gains derived by a company from the sale of a capital asset are able to be distributed tax …

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Holiday Pay Mishaps

As seen through the media recently, errors within holiday pay calculations are more common than we’d like to think and not just limited to Government organisations. Due to the complexity of the calculations required to monitor and record holiday pay, errors or deviations from the Holidays Act 2003 (the Act) requirements can occur. This can …

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