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

“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)

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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For many of us, making a will is one of those chores that we intend to do one day soon, but just not today. Let’s face it, thinking about certain future death is not fun. However, your will is one of the most important documents you will make. If you delay, you might lose the opportunity to make one at all. Death or serious mental injury can come unexpectedly. Parry Field Lawyers provide legal advice on drafting wills to make sure they are clear and comply with New Zealand law

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.

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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EUREKA! Gift Duty Applies to Donations!

Unlike the naked Archimedes’s joyful exclamation, the recent expose of the Eureka Trust comes as a more serious warning for those working in the charitable sector. Charities never need to bother with tax issues do they? Actually, yes …

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Tax Issues to Consider When Moving to New Zealand

If you are thinking of moving to New Zealand then here are a few tax issues to consider.

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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.

Christchurch CBD

PHONE: +64 3 348 8480
FAX: +64 3 348 6305

PHYSICAL ADDRESS:
Level 1, 60 Cashel Street
Christchurch 8013, New Zealand

POSTAL ADDRESS:
PO Box 744
Christchurch, 8140, New Zealand

Christchurch

PHONE: +64 3 348 8480
FAX: +64 3 348 6305

PHYSICAL ADDRESS:
1 Rimu Street, Riccarton,
Christchurch 8041, New Zealand

POSTAL ADDRESS:
PO Box 8020, Riccarton,
Christchurch, 8440, New Zealand

Rolleston

PHONE: +64 3 348 8480
FAX: +64 3 348 6305

PHYSICAL ADDRESS:
Level 1, 80 Rolleston Drive,
Rolleston, 7614, New Zealand

POSTAL ADDRESS:
PO Box 8020, Riccarton,
Christchurch, 8440, New Zealand

Hokitika

PHONE: +64 3 755 8673
FAX: +64 3 755 8073

PHYSICAL ADDRESS:
26 Weld Street,
Hokitika 7810, New Zealand

POSTAL ADDRESS:
PO Box 44,
Hokitika 7842, New Zealand

Parry Field Charitable Foundation

Parry Field charitable members of NZ LAw, Global Cross Legal and SCLA