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Regular pattern not just a knitting matter

The rules that tax certain sales of land include exclusions relating to a person’s main home.   These exclusions are not meant to apply where the taxpayer has a “regular pattern” of buying and selling land used as a main home, residence or business premises. A tax policy consultation document, Habitual buying and selling of land, released … Continue reading

More Remorse

Triezenberg v Mason (NO 3, recalled and reissued on 6 September 2019) chronicles the cost of a battle for the control of two family trusts.  In earlier decisions (see Loss of Morale and Buyer’s Remorse) Mr Mason was removed as a trustee of two trusts settled by him and his wife, and then later was stripped of his Appointor … Continue reading

Proposed amendments to taxation provisions relating to trusts

The Taxation (KiwiSaver, Student Loans, and Remedial Matters) Bill (Bill) includes proposed amendments arising from the administrative review of the taxation of trusts. The proposed amendment relate to clarification as to what can comprise corpus and a range of amendments that clarify the nature of certain distributions and amendments that relate variously to complying,  non-complying and foreign trusts … Continue reading

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