Today we publish the Summer 2012 edition of Trust eSpeaking. We hope you find this e-newsletter both interesting and useful.
In this issue there are articles on:
If you’d like to talk further about any information in this newsletter, or about trusts in general, please get in touch with us.
Following the abolition of gift duty on 1 October, we publish a special edition of Fineprint here.
You may be considering whether to complete your gifting programme in one fell swoop – or perhaps not.
Everyone has their own reasons for establishing a trust, and your own individual situation will be unique to you and your family. Completing your gifting programme in its entirety may not be the best step for you.
Do get in touch with us so we can talk about the best path forward for you and your particular circumstances.
The Supreme Court has just released its judgment in the ‘Penny Hooper’ case. This case involved two doctors that worked in their own private practices. They then formed companies for which their family trusts were shareholders. Rather than the doctors receiving the full income they generated – they were paid a salary. The IRD said the salary was significantly below market value (i.e. one doctor went from $650,000 income one year to a salary of around $100,000).
The Supreme Court has said that having a salary set at a low rate to avoid paying tax is tax avoidance. However, if the salary is at a low rate for a legitimate reason (e.g. saving income for the purchase of a capital item) then this is not tax avoidance.
A more detailed summary of the decision follows and you can read the full decision here.
Today we publish the August 2011 edition of Property Speaking; a PDF of the newsletter is attached. We hope you find the articles of interest, and please don’t hesitate to contact us if you’d like to know more about any topic.
In this issue:
Property briefs:
Today we publish the Winter edition of Rural eSpeaking. We hope that you find the articles of interest.
In this issue:
If you need advice on any of these topics, please give us a call.
Here is the latest issue of Commercial eSpeaking. In this issue:
From 1 April 2011 a number of important employment law changes came into effect.
The main changes to the Holidays Act include:
The main changes to the Employment Relations Act include:
To discuss how this might affect you please contact Chris Grenfell on 07 872 0877.
Minister of Consumer Affairs John Boscawen today announced that a Consumer Law Reform Bill to strengthen consumers’ rights and simplify business compliance will be introduced to Parliament later this year.
Here we publish the March 2011 issue of Rural eSpeaking; we hope you enjoy reading it. If you would like to talk further about any rural issues, please don’t hesitate to contact us.
In this Autumn edition, you can read articles on:
· Personal Property Securities Act: Grappling with section 53 in a livestock purchase
· Leasing the Farm: Can be a practical solution
· Over the Fence: New minimum wage rates – Sharemilking Arrangements: 2011-2-12 season – Public Holidays: Easter 2011 – GST zero-rating land transactions
The next issue of Rural eSpeaking will be published in July.
Today we publish the Autumn issue of Trust eSpeaking; we hope you enjoy reading it. If you would like to talk further about any issue about trusts, please don’t hesitate to contact us.
In this March edition, we have articles on: