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The Sunday Star Times (27 November 2011, D4) questions whether trust professionals are “urging people with family trusts to continue gifting at $27,000 a year despite the abolition of gift duty … to bolster their own profits.” Jonathon Cron of New Zealand Trustee Services is quoted as saying that “compliance saving [as a result of … Continue reading →
From 1 October of this year, assets can be gifted to trust free of gift duty. Gift duty, was abolished because the Government was of the view that it was an inefficient tax that was easily avoided through gifting programs. For readers unfamiliar with gifting programs – this is how they worked: If I gifted … Continue reading →
Matters of Trust