Gift duty repeal - practical implications by Stephen Tomlinson
By: Tomlinson, Stephen.Publisher: Wellington, New Zealand New Zealand Law Society, September 2011Description: 17 p. ; 30 cm.Subject(s): Gift duty | Asset Management | Retirement | Trusts | Income tax | Creditors | New Zealand. Property Law Act 2007 | New Zealand. Insolvency Act 2006 | New Zealand. Taxation (Tax Administration and Remedial Matters) Act 2011
|Item type||Home library||Call number||Status||Date due||Barcode||Item reserves|
|Book||New Zealand||412.67 GIF (Browse shelf)||Not for loan||CA004361|
GIFT DUTY REPEAL : A brief history of gift duty in New Zealand ; Impact of gift duty repeal on gifting programmes ; Implications of gift duty repeal for income tax ; Implications of gift duty repeal for creditor protection ; Implications of gift duty repeal for relationship property ; Implications of gift duty repeal for family protection and testamentary promises claims ; Implications of gift duty repeal for the residential care subsidy ; Practical advice ; APPENDICES: Sample third party solvency statement for the purpose of s 346 of the Property Law Act 2007 and s 205 of the Insolvency Act 2006 ; Sample personal solvency statement for the purposes of s 346 of the Property Law Act 2007 and s 205 of the Insolvency Act 2006
Looks at the practical implications of the repeal of gift duty in NZ, applicable from 1 October 2011. Considers the impact of the repeal of gift duty on gifting programmes, income tax, creditor protection, relationship property and residential care subsidies.