Our client Dan, owns a large dairy farm in the Rural Zone. Dan has been hit hard by the downturn in the dairy payout in recent times, and his bank is putting the squeeze on him to reduce some of his farm debt. Dan’s property adjoins a State Highway; is within an area of high […]
Since the abolition of gift duty on 1 October 2011 many people are asking whether they should gift away all of the debt which their Trust (or others) might owe them. This month we look at some of the issues that you need to consider before making your gifting decision. The answer to this question […]
I have spoken to a number of first home buyers about the proposed new deposit rules for first home loans. Within the next few months the Reserve Bank could introduce loan-to-value ratio (LVR) restrictions on banks. These restrictions mean home buyers may soon need a minimum deposit of 20% of the property’s value before a […]
As a lawyer specialising in trusts I am often asked by clients whether they should gift all of their debt to their Trust. Since the abolition of gift duty it is now possible for individuals to gift away all of the debt which their Trust owes to them. Previously, it was limited to $27,000.00 per […]
