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Charitable trusts

This category contains 8 posts

Who is doing what?

There are currently 27,322 registered charities in New Zealand with a combined reported annual income of $16,505 million. What is sometimes overlooked is all the people behind the scenes who make all this happen.  Making sure that everyone who makes these things happen know their responsibilities and obligations is a significant undertaking. It has been reported … Continue reading

Amending charitable trusts to include powers of variation

There are a large number of charitable trusts in New Zealand.  The reason for this is not well understood: see How Charitable is New Zealand for some insight. One of the issues that arises, perhaps more in New Zealand than elsewhere, due to the number of charitable trusts, is that the trustees are not always … Continue reading

Greenpeace appeal result – one all draw

The Supreme Court decision in the Greenpeace appeal has been released.  The judgment of the court is that: The appeal against the Court of Appeal’s determination that a political purpose cannot be a charitable purpose is allowed (by a 3:2 majority) The appeal against the Court of Appeal’s determination that purposes or activities that are … Continue reading

Death and taxes

While in the context of trusts it is common to talk of the three certainties, in life it is often said that the only certainties are death and taxes.  The decision in The Foundation For Anti-Aging Research & Anor puts a new spin on this adage.  This case relates to two failed applications for registration … Continue reading

Trust Fundamentals Webinar

Trusts are the best long-term intergenerational form of asset protection.  However, as litigation involving trusts increases, questions are reasonably asked regarding the “safety” of trusts.  If you are looing for answers or guidance Vicki Ammundsen is presenting a webinar on February 19th discussing the fundamentals of trusts.  Topics covered by the webinar include: Requirements of a valid trust Differentiation between … Continue reading

New community housing tax exemption announced

The Government has announced that it will introduce legislation to Parliament to provide that assisting low-income families into home ownership will be exempt from income tax. The law change is necessary after the Charities Commission (the functions of which have been taken over by the Department of Internal Affairs – Charities) decided that assisting people into home … Continue reading

Charitable or not?

The decision in the Southland and Scottish Hall Community Trust case raises the important consideration of knowing what it is you are dealing with.  In this case a declaration was sought as to whether the trust was a trust under the Trustee Act 1956, or a charitable trust under the Charitable Trusts Act 1957.  The trust … Continue reading

Variation of Charitable Trust

About half of all New Zealand registered charities are trusts.  Some settled on carefully considered terms, some not so much. The problem when a Charitable Trust needs amendment as it cannot fulfil its original purposes (no matter how arcane) is that unlike discretionary family trusts, charitable trusts cannot necessarily be varied by the trustees at … Continue reading