New Zealand is not generally regarded as being a tax haven. It is better known for sheep, the All Blacks, the flightless Kiwi bird, and as holder of the Americas Cup. However, let’s take a look at some of the taxation features that apply in New Zealand.
The tax treatment of Trusts in New Zealand is worthy of more than passing attention. This has come about as a result of the government’s desire to attract overseas investment to New Zealand. All too often governments make political statements saying that they want to attract much needed investment from overseas but then they seem to do their level best to discourage such investment through either controls (for example, Malaysia), or punitive taxes (for example, Australia). In New Zealand the government has actually put in place legislation that does attract investment from overseas....
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Two steps forward, two steps back. Italy has been shaking it all about so far this year. And after all that effort, by June 21st the Italian tax police were virtually back where they started the year.
The uncertain economic times recently faced by the industry together with the increasingly safety- and security-sensitive environment have had one undeniable effect on owners choosing a jurisdiction for registering their superyacht and this is the instilment of a greater awareness and sensitivity to the advantages that may be offered by a particular flag.
Fraud and insolvency can be vexing. However, there are a number
of tools available to an insolvency professional who is faced with
an insolvent estate that has been made the victim of grand
malfeasance or fraud.
Current and feared future changes to UK tax have seen an increasing number of High Net Wealth (HNW) individuals look to relocate to the Crown Dependencies of Guernsey, Isle of Man and Jersey (‘the Islands’), as well as other more tax-favourable territories around the world.
The Queensland Supreme Court has held the ancient maritime rule apportioning liability 50/50 regardless of respective fault, when two ships collide, no longer prevails. Instead, liability is apportioned according to each helmsman’s respective fault.
Traditionally, the view has been that the right to set off one debt against another does not constitute a security interest but it may be that this position is no longer as clear cut in light of the recent Canadian Supreme Court ruling in Caisse populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29 ("Caisse populaire")
In March of this year, Friary Court Insurance PCC (Friary Court), the ex-Heath Lambert-owned cell captive facility which was acquired by Heritage Group as part of the acquisition of Heath Lambert’s captive management operations, was amalgamated with Heritage’s Harlequin Insurance PCC (Harlequin).
Last month I looked at some of the reasons why property prices in offshore jurisdictions such as Gibraltar are holding steady, while those across the border in Spain are heading south.
