At the end of last year, the Government passed the Taxation (Income Tax Rate and Other Amendments) Bill which introduced a top tax rate for individuals of 39% on income earned over $180,000 per annum. The Act also introduced new disclosure requirements for Trusts. From April 1, 2021, all income-producing Trusts are required to report the
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Why are we seeing more Property Sharing Agreements?
We are seeing more and more Property Sharing Agreements as more people choose to go in with friends or family to buy property in today’s hot real estate market. A Property Sharing Agreement is an Agreement between different parties that sets out their rights and obligations in relation to property (the property usually being a house or piece of
What are Contracting Out Agreements?
A Contracting Out Agreement is a document signed by a couple that sets out what property they own individually and jointly — it’s usually entered into during the early part of the relationship. Under the Property (Relationship) Act 1976 (“the Act”), property owned by a couple – which includes all assets and liabilities — is viewed as belonging
What you need to do NOW as a Trustee
The new Trust Act 2019 is now in force. As such, Trustees must now advise ALL beneficiaries of the Trust that they are beneficiaries and let the beneficiaries know that they may ask the Trustees for information about the Trust. NEW IRD REPORTING REQUIREMENTS FOR TRUSTS At the end of last year, the Government passed the Taxation (Income Tax
Wendy Hampton’s Story
To give you more of an insight into Horrocks Hampton’s owner, Wendy Hampton, we askedher to briefly share a bit about her background and career — you can read it below… “I emigrated to New Zealand from England in my early 20s and after working in retail andhospitality – where I learned the importance of customer service to a business — I decided
Urgent note to our Trust clients
We have now contacted almost all our Trust clients. If we have not contacted you yet please read the following and contact us: The new Trusts Act comes into force in just over 5 months and it is imperative you URGENTLY contact us to discuss your trust options before the Act comes into effect and you are subject to the new provisions. Your
