The inheritance tax system in New Zealand revolves around an estate duty, levied on deceased estates and a gift duty on inter vivos gifts. There is no capital gains tax. The Estate and Gift Duties Act 1968 does not contain any general anti-avoidance provisions. Avoidance of duty is common....

A case note on Baigent v. CIR (1978) 3 NZTC 61,300. Section 63 of the Estate and Gift Duties Act 1968 provides that “a dutiable gift shall include and consist of all the property, comprised in any gift”. Where the donee pays gift duty on behalf of the donor the duty forms part of the value...

Livestock transfers must be handled differently from other asset transfers because of the standard value system and its accompanying deferred tax liability. Two options are discussed: to transfer the livestock to a family trust or to transfer the livestock to a child of the farmer. Section 89 of...

Section 17(4)(a) of the Estate and Gift Duties Act 1968 allows any income tax payable in respect of the deceased to be considered a debt in the calculation of the final balance of the estate. Factors that suggest a high value should be adopted by the executors include that the income of the...

Section 16 of the Estate and Gift Duties Act 1968 catches death benefits left by a deceased who was a member of any superannuation scheme. The case of Hounsell v CIR (SC Wellington, 17 April 1975, M274/73) illustrates that considerable duty can be payable on such a scheme. Some estate planning...