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W & K

Family Trusts

Tax Time Draws Near

As we are now very close to the end of the tax year, for many investors, it is very timely that they get their financial records up to date. Investment Portfolio Tax can either be a very interesting topic, boring, simple, or a plain chore.

It has been a number of years since the investment taxation laws were changed to any extent. That change was needed to accommodate KiwiSaver and the introduction of PIE Funds. The change also flowed through to foreign investment funds.

Trusts may not always be the great safeguard

26 Nov 2012

On the first of October last year, gift duty ceased to exist. Some people may have said words to the effect “This is great as I can simply gift all my assets over to my trust and they will be out of reach of creditors, disillusioned partners, and government agencies for benefit means testing”.

Trust Difficulties

Over the past few months there have been news articles including in this newspaper, relating to trusts that have struck difficulties, particularly with the actions of trustees. Historically, one of the reasons for beneficiaries not taking trustees to task has been the costs associated with taking legal action.

Trusts – Be Wary of Over Gifting

20 Sep 2011

On the first of October, gift duty will cease to exist. Some may say “This is great as I can simply gift all my assets over to my trust and they will be out of reach of creditors, disillusioned partners, and government agencies for benefit means testing”.

Dear Santa

Dear Santa

We are really looking forward to catching up with you on Christmas Day.   We hope all is well with you and Mrs. Claus, and of course the little ones.   Your reindeer must be getting really excited about this coming Friday’s great big trip.

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