Trust Act 2019

The Trusts Act 2019 was almost 20 years in the making and reflects a changing social paradigm regarding privacy and secrecy. However, when viewed objectively, the new language and the drafting reflect the premise behind the Trusts Act, which is to make trust law more...
Trusts Act 2019 – what you need to know

Trusts Act 2019 – what you need to know

We now have a new piece of legislation that deals with Trusts – the Trusts Act 2019.  The new Act doesn’t make sweeping changes to the law applicable to Trust in New Zealand, instead it largely restates the existing law in a way that is more accessible to...

Tax avoidance arrangement confirmed

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...
Trust law passes third reading

Trust law passes third reading

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...