The Professional Trustee Team Blog
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Professional trustees are involved in all sorts of transactions for their clients. One of these is signing the settlement documents when a trust is buying or selling a property. The sale and purchase agreement for such a transaction will detail the settlement date, i.e. the date..
Read ArticleThe Residential Care Subsidy: Asset and Income Tests Explained
by The Professional Trustee Team 18 May 23If you’re enjoying a well-earned retirement, or looking out for the interests of your parents who are, there may come a time when rest home care is required, and you have to deal with funding the cost of that care. Will you be eligible for the..
Read ArticleFiling 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 ArticleNew legal and regulatory requirements are slowing things down and costing people time and money, especially if they leave things to the last minute before involving their professional advisers. The following story illustrates. Recently, a client faced the problem of failing to obtain bank funding..
Read ArticleRecently New Zealand passed legislation which we are finding is affecting many clients, especially individuals, trusts and companies. For this reason, it's important you are aware of the new law and how it will affect you. Purpose and objective of new legislation The law recently..
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 ArticleTestimonials
Hi Juliette, Just want to say thank you for all the work you have done and advice you've given. Definitely tricky during these Covid times and still getting the job done. Want to wish you and your team good fortune, and hopefully in the future work together to get another property.
- Arthur W, September 2021
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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