Gift Duty

Duty on gifts in excess of $27,000 for any given 12 month period used to be payable until 1 October 2011 when the duty was removed.  Further, a return is no longer required to be filed with IRD, although a Deed of Gift should always be prepared to record gifting and particularly with respect to family trusts.

It is possible to prepare such deeds contemporaneously with the documentation that transfers (by way of sale) assets to a trust.