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Is it a bird, is it a plane, is it a loan?

It is well recognised that arrangements surrounding family trusts are often informal.  However, while this is understandable, and explainable, the consequences of this informality can be uncertainty and, at worst, understandings of some parties that are light years from what might have been intended. Regardless of the relationship between the parties, and indeed often because … Continue reading

Trustee liabiltity

Vicki Ammundsen is presenting a webinar for the New Zealand Institute of Chartered Accountants (NZICA)on Trustee Liability on Wednesday June 20 at 10am. This webinar identifies how and where trustee liability arises, and how trustees can avoid personal liability. Topics covered in the webinar include: The sources of trustee liability Contracting out of trustee liability … Continue reading

Residential care subsidy changes enacted

Effective 1 July 2012 the asset testing thresholds for determining eligibility for a residential care subsidy will be CPI adjusted on 1 July of each year.  This adjustment replaces the previous mechanism, which increased the thresholds by $10,000 each year and was to apply until 1 July 2025.   For more information on residential care subsidies see … Continue reading

Residential care subsidy update

The regulatory statement to the Budget 2012 amendments to the residential care subsidy thresholds (now CPI adjusted rather than increasing at $10,000 per annum) makes interesting reading reading.  Accepted that interesting might overstate the matter for many.  Regardless, the statement does throw up some numbers that add some flesh to the bones. For example, of the … Continue reading