Is this the last nail in the coffin for trusts?

Trusts were seen as a safe haven, but the tax hike was a shock. (Image: Getty)

Wed, 07 Jun 2023

This country is estimated to have one of the highest per capita rates of trust use in the world, but this situation is unlikely to last. The popularity of trusts is dwindling fast.The recent budget set the tax rate for trusts to increase from 33% to 39% – a big change for the roughly 177,000 income-producing trusts in New Zealand.This latest tax change is yet another tweak to a structure that was once considered a safe haven for assets but is now costlier and more time-consuming than it was in the past. Is the 39% tax rate the final...

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