by Munro Benge | Dec 6, 2018 | GST, Property, Technical Updates, Trusts
On 5 December 2018, the Government introduced the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill (114-1) into Parliament. The Bill is expected to have its first reading on 12 December 2018. The Bill introduces...
by Munro Benge | Nov 22, 2018 | Property, Technical Updates, Trusts
The Court of Appeal has held that a ship’s captain had a permanent place of abode in New Zealand in the 2005 to 2009 tax years and was therefore liable to pay tax in New Zealand on his worldwide income. The Court of Appeal also upheld the Commissioner’s imposition of...
by Munro Benge | Oct 29, 2018 | GST, Technical Updates, Trusts
The High Court has struck out a Trust’s application for judicial review of decisions by the Commissioner and Taxation Review Authority (TRA) for lack of jurisdiction. The Court found that there was no jurisdiction because the Trust’s application for review did not...
by Munro Benge | Oct 3, 2018 | Technical Updates, Trusts
The High Court has held that annual forgiveness of debts to a charitable trust are monetary gifts paid to that charitable trust and as such qualified as charitable gifts. The background On 14 October 2007, Mrs Roberts and her late husband jointly established the Oasis...
by Munro Benge | Sep 6, 2018 | Trusts
Do you have a family trust? Thinking of forming one as a way to future-proof your assets for you and your children? Take note – the Trustee Act is getting a makeover. While there are still a few parliamentary hurdles to jump, now’s the time to get your head...
by Munro Benge | Sep 6, 2018 | Trusts
Up until now, a trustee’s job description has been clear as mud with many families getting into strife unaware of their trustee’s responsibilities. If the new bill comes into place, a trustee’s role will be clearly outlined, and include: Knowing the terms of the trust...
