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Variation of trusts can have tax consequences

Variations run from changes to deeds of trust for administrative reasons or to reflect legislative amendment; to changes that affect beneficial interests.
The consequences of a variation depend on the extent of variation. A variation of a minor nature such as a change of the trust’s name will not have tax consequences because there is no alteration to the rights or obligations pursuant to the trust.
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The 21st Century and Beyond!

CCH has just published what is believed to be New Zealand’s first tax eBook: Tax Avoidance Law in New Zealand by James Coleman. This will be launched at the NZICA Tax Conference on Friday, where delegates will also be able to see an eBook demo. For those who are not familiar with eBooks (ie, most of us!), they are digital books that can be read on laptops, PCs, iPhones and eBook readers. As well as being highly portable, they allow users to carry out searches, add bookmarks and notes, and vary the text size.

If you are attending the conference, come see our Representatives and have a look at the eBook!

Notes on the Westpac Case

On Avoidance Generally …

- No real need to look at pre-Ben Nevis cases [para 170]

- Ben Nevis is a “diplomatic rejection” of the orthodox principles of tax avoidance set out in Richardson J’s majority decision in Challenge [para 176]

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TalkTax winners…

Congratulations to Sybrand van Schalkwyk and Terry Baucher our TalkTax competition winners for September. They each win a copy of James Coleman’s new book Tax Avoidance Law in New Zealand.

TalkTax has been running just a little over two months now and we’re really pleased with the response to date. We’ve had over 2,500 visits and 8,110 page views in that time.

Do you have something to blog about…? If you are interested in contributing to TalkTax we’d love to hear from you. Please contact us on info@talktax.co.nz.

Recent comments

  • Joanne Martin: Hi Would you be able to email me to discuss a small company that is an LTC which I need some advice on...
  • Rizwana Saheed: You are on the right track that there is an exemption when employees work overtime but whether or not...
  • bryan: as a group of employees we get paid meal money if we exceed 11hrs on any day. Employer says he wants to tax...
  • linda: My mother is 94 and has dementia. With govt assisted carers she is still living in a home gifted within the...
  • Sharon: Hi Daniel, Can you please advise how owners of a profit-making LTC pay themselves? The owners used to pay...
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