Filing tax returns for trusts is becoming more complicated, and trustees need to be aware of this. From the 2022 financial year onwards (i.e. year ending 31 March 2022), additional information must be included in a trust’s tax returns. None of this is particularly difficult, but..
Read ArticleSo you have set up a trust and you are a trustee, and you wonder, “what are my obligations as a trustee?” To answer that question we turn to the Trusts Act. Under this Act there are two classes of trustee duties, being mandatory and default...
Read Article30 July 2019 was an important milestone in the land of trusts. That was the date the Trust Act 2019 became law in New Zealand. One of the objectives of this new law is to provide for greater transparency and accountability by trustees to beneficiaries. This..
Read ArticleTrusts hail from medieval times and one can be forgiven for thinking current trust law has been on our statute books since that time too. A combination of legislation, common law judgements and equity maxims result in the law being antiquated and complex. This frequently..
Read ArticleProperty contracts, including sale and purchase agreements and building contracts, sometimes include clauses that can be harmful to the unwary. And by unwary, I simply mean people who are not used to dealing with such legal documentation. One of the advantages of using a professional..
Read ArticleA new bill is making its way through Parliament which is going to see changes made to the current Trustee Act. All those with an existing trust should be aware of the implications imposed and the opportunities this new bill will bring when it becomes..
Read ArticleIt is a common misconception that you have to live with someone for three years or more, and they have to make a direct contribution to the assets acquired during the relationship, before they're entitled to bring a relationship property claim. Possibly this mistaken belief..
Read ArticleEvery parent wants their children to have an equally good if not better life than what they've lived. To achieve that objective, parents tend to work hard to build up assets so they have something to leave their children when they die. This is done with..
Read ArticleWe all know trust law is a moving beast. The Court of Appeal recently demonstrated this when it released a judgement that had professional trustees using their little grey cells and thinking hard about their clients. The case involved a fairly traditional marriage, of reasonably..
Read ArticleWe moved our business accounting to GRA twelve months ago and have never looked back. Matthew Gilligan and his team have consistently provided us with honest straight forward advice and have proved themselves to be honorable, trustworthy and efficient in all matters to date. The point of difference for us is that GRA do not charge their clients for every question asked (like most other accountants) which allows for better communication and understanding of how to run a successful company. GRA have impeccable time management systems in place and their customer service is outstanding. I recommend them to any other business that wants good solid advice with the aim of business success, asset protection and opportunities for sound investments. - A Ellis – EC Flooring Contractors Limited
Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.
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