Gift Duty

Gift Duty5 Mar 2012

...Gift Duty has been abolished. However, depending on your circumstances, a Gift may not be effective against creditors, relationship partners or WINZ. Contact us first to discuss.
Gift Duty was abolished from 1st October 2011. This was just one important tax change many of which commenced from 1st April 2011. Such as:
The end of depreciation on residential buildings.
Company tax rate at 28%. This compares to Trusts (Trustee) rate of 33% and personal income tax top marginal rate of 33%