by Munro Benge | Oct 15, 2019 | Technical Updates, Trusts
The Taxation Review Authority (TRA) has held that there was a tax avoidance arrangement involving a trust. The interest deductions claimed by each taxpayer were void against the Commissioner under s BG 1 of the Income Tax Act 2004. The background This case related to...
by Munro Benge | Jul 27, 2019 | Technical Updates, Trusts
The Trusts Bill (290-3) that was introduced on 1st August 2017, has passed its third reading in Parliament. The Bill now awaits the Royal assent. The Trusts Bill will replace the Trustee Act 1956 and the Perpetuities Act 1964 to make trust law more accessible, clarify...
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...
