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Prenups: How do they work? The essential guide

You’ve just entered a new relationship. Congratulations! But what if you and your partner come into the relationship with different assets that you both wish to keep, should you later decide to go your separate ways? This is where a Contracting Out Agreement, more commonly known as a “prenup”, comes into play. In a nutshell, […]

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A Bank of Mum and Dad Lending Twist - Elderly Woman Loses $50,000

While a very sad story that relates to family relationship breakdown, it also signifies the importance of drawing up clearly defined legal expectations when it comes to gifting or lending to family members. In this instance an elderly woman (79) in New Zealand lent $50,000 to her daughter to purchase a property they planned to […]

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Could your family home be the subject of a capital gains tax by stealth?

If you have been keeping a close ear to the pulse of recent media reports, you may have noticed the so-called "bright-line test" that taxes the gains on the sale of residential property, getting some increased airtime.  So what is all this about?  According to a recent Inland Revenue draft interpretation statement on the bright-line […]

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