According to Greek mythology, to be properly buried, a coin called an obol needed to be placed under your tongue. This would then be presented to Charon (the ferryman of the River Styx), as payment for the crossing of the river. The entrance to Hades, the underworld, was on the other side of the river. If you were not buried with a coin in your mouth you were destined to wander the banks of the Styx until you found the paupers’ entrance to Hades.

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Parry Field Lawyers provide legal advice on a range of trust matters including formation and operation of both family trusts and charitable trusts.

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Parry Field Lawyers provide legal advice on a range of trust matters including formation and operation of both family trusts and charitable trusts.

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In the course of trusteeship, trustees make decisions that will impact on the assets of the trust.

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“Many trustees are unknowingly sitting on a time bomb as a result of the failure of advisors forming trusts to provide practical guidance on trust law, the running of trusts, or the duties of trustees. This has resulted in many trusts being either shams i.e. invalid, or a series of invalid transactions.”
(From
“Sham Trusts” by Ross Holmes)

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Parry Field Lawyers provide legal advice on a range of trust matters including entry into and operation of family trusts and charitable trusts.

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The Top Ten Things to Know when you are about to have an IRD Audit or Dispute

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The rate of GST is changing on 1 October 2010 to 15%. Get this wrong and it could cost you dearly, especially if you are purchasing or leasing property.  This short note covers a couple of important situations that could save you money, in terms of the New Zealand GST Transitional Rules.  First we consider the situation where you purchase a property now, but the contract does not become unconditional until after 1 October 2010.  This is likely to happen more and more frequently as the time gets closer to 1 October 2010, and will be something to watch out for if you are in the market for a house. This will only apply if you are purchasing from a registered vendor.

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International Charities and New Zealand Tax Law


Are you an international charity that has recently applied for listing on Schedule 32 of the Income Tax Act 2007?  Or do you have a client in this position?  If so, we would like to hear from you.

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In mid-2008, the New Zealand government gave charities an opportunity to give their view on receiving a tax break. Currently charities are indirectly taxed when they invest in New Zealand companies. The government has been investigating ways to prevent this from happening. Parry Field lodged the following submission with comments on the government discussion document.

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