The government abolished gift duty for dispositions of property made on or after 1 October 2011. This means that:
For gift duty on any gifts made before 1 October 2011, the IRD’s guide on the IRD website is helpful.
A gift is something given when:
If something of lesser value is given in return for a gift, the value of the gift is the difference between the two values.
These items can all be gifts:
For more information on gifting or gift duty please give us a call.
Spooner, Hood & Redpath Ltd
162 Wicksteed Street, PO Box 765,
Ph 06-349 0015, Fax 06-345 3943
Website by Inferno Design