Northern News : November 24th 2010
8 NORTHERN NEWS, NOVEMBER 24, 2010 ARTS WEBER LT D chartered accountants and business advisors p.094077117If.094077649IPOBox501 10 Fairway Drive Kerikeri, 0245 Abolishment of Gift Duty What does this mean for Trusts? Annika Dickey BBS ACA The budget announcement earlier this year also discussed that they would look very closely at addressing some of the concerns associated with Trust's including social assistance, asset testing subsidies, tax sheltering and creditor protection. These projects are underway and we are expecting a tightening up on the benefits of Trusts. So why have a Trust? The real reasons and benefits of having a Trust are still there but they do come with some caution. 1 Security during breakups -- Those planning on entering a relationship can protect their assets in a trust which keeps those pre- relationship assets as separate property. There are exceptions to this and the Family Court are increasingly willing to bust open some Trusts. 2 Excluding a wayward child -- The trust can be set up to include only certain beneficiaries so a wayward child can be excluded. You can still do this in a will but wills are easier to challenge than trusts. 3 Protecting assets from beyond the grave -- By giving your offspring only a beneficial interest in the Trust's assets (rather than giving them the assets themselves), any of your children's current or future spouses can't take their share of those assets in a relationship property settlement. 4 Tax savings -- while the top individual tax rates are now aligned with the Trust's tax rate, Trusts can still provide tax savings through splitting the income of the Trust to various family members at lower tax rates. 5 Protecting Assets -- this currently is still one of the main reasons for a Trust. By the Trust owning the assets and you impoverishing yourself of them, any exposure that you have to liabilities is confined to you. There are exceptions to this and we believe that being able to defy your creditors by protecting your assets is likely to change. If you would like advice on Trust's, please contact Annika Dickey on 09 407 7117 ext 211. K 2755649AL Total compliance costs to taxpayer $70million Total revenue earned by IRD $1.5million Total administration savings by IRD from repeal $430k Cost of Gifting FOR THE FARMYARD AND THE BACKYARD Customer Support Centre 0800 731 266 Offer valid on Friday, November 26, 2010 only, or while stocks last. Offer exclusive to RD1 Waipapa, RD1 Kaikohe and RD1 Kaitaia. Price includes GST and is subject to change. ALL WELCOME, NO JOINING FEE RD1 Kaikohe Station Road Ph 09 405 2305 RD1 Waipapa State Highway 10, RD 2 Ph 09 407 1375 RD1 Kaitaia 23-27 Matthews Ave Ph 09 408 6023 EXCLUSIVE HOT DEAL FRIDAY PERFORMANCE PRODUCTS STINGER SINGLE KAYAK • Complete with back support and paddle • Built-in twin keel for stability • Carries up to 115kg • Available in a range of single colours only EXCLUSIVE TO RD1! # 235550 $37599 NORMALLY UP TO $429.99 $5400 This free service is for women aged 45 to 69 Our mobile screening unit with fully digital 'state of the art' breast cancer screening equipment is coming to Kerikeri from November 15th to December 7th. Make sure you don't miss out. Regular screening is important. It could save your life. Make your appointment today. Ph 0800 270 200 to enrol now. FREE BREASTSCREENING is coming to you Love and fate on stage The Three Fates: Filipo and Verona featured, from left: Wendy Wills as Phoebe, Asha Haines as Cassandra and Chennaye Hobbs as Electra. Photo: MIKE NETTMANN ABOUT THE ARTS WITH MIKE NETTMANN I love acting. It is so much more real than life -- Oscar Wilde Filipo & Verona at Taipa Area School This Samoan-Italian love story written by New Zealand playwright Kerry Lynch was clev- erly adapted by Gerlinde Andraschko and bril- liantly performed by the Taipa Area School's NCEA students. Two teenagers, Filipo (Reuben Butler) and Verona (Jessica Hyland), are selected by The Three Fates -- Chennaye Hobbs, Asha Haines and Wendy Hills, who plan to have a little fun by cre- ating mayhem. A throw of the dice selects one of the teens to suffer unrequited love. The play has some hil- arious comedy scenes, especially when the boys have been tricked'' into thinking they are girls and vice-versa with the girls acting as boys. Together with great costumes, backdrop, stage set and a perfect choice of contemporary music including excel- lent dance sequences, this was yet another out- standing school pro- duction. Art Showcase at NorthTec Kerikeri Thanks to regional administrator Donna Shaw, NorthTec Kerikeri opened its doors last Wednesday evening allowing the community to see what has been achieved by the ACE pot- tery Tuia Te Korari and Applied Arts year one and two students. How sad that the exhi- bition was only for three hours. It was not fair on the hard-working students, who have produced some excellent work, or the community who I'm sure is very keen to see what is being achieved at this campus but rarely given the opportunity. NorthTec is an inte- gral and important part of our community. In future, please allow more exhibition time as I believe your students, the community and our local schools should be given the opportunity to see what you have to offer and encourage them to pursue a degree with you. Theresa Reihana at Village Arts All the paintings in this exhibition depict Hei Tike as a symbol of life, nature, whakapapa and Maori culture using tat- too symbols to show what we are doing to ourselves and the world. Although Theresa's beautifully-painted work focuses solely on the negative, they certainly pack a visceral punch. While at the gallery do not miss Marg Morrow's chemically-altered, one- off, unique silver gelatin photographic prints. The gallery is now open daily from 10am to 4pm. Other events I attended last week: Lunchtime concert at The Centre, Kerikeri: Commendable perfor- mances by Daniel Morri- son, Camilla McMillan, Jordan Westerlund and Lucy Shand, all students of Carol Maher. These wonderful concerts are such a treat. Dudley Benson and The Dawn Chorus at Kingston House, Keri- keri. Unfortunately, this superb concert was badly publicised, drawing only 10 audience members. However, they perform- ed like true professionals to give one of the best shows I have seen this year. What magnificent vocal arrangements faultlessly performed by The Dawn Chorus who are four members of The Auckland Youth Choir. At Frontline: Another great concert by piano and violin students and the Faculty of The Kerikeri School of Music. Congratulations Mag- da Cotman and Kellie Edwards for your people's choice award at the recent BDO Panting and Drawing Award exhibition at The Centre. ARTS CALENDAR EVENTS Nov 25 - Dec 15,Te Putanga Mai' diploma of applied arts graduate exhibition at Rawene Art Gallery. Opening preview today from 5.30pm -7.30pm. Nov 28, An Afternoon of Jazz with special guests Mahina Kaui and Clifford Royal at the Hokianga Harbour Hotel Kohukohu at 2pm. $5 at door. Taonga Puora workshop from 1-2pm. Dec 4, Open day pottery specials at Shepherd Road Pottery, Fern Flat - inland from Taipa- from 9-5pm. Dec 4 -19, Peregrination: From Pakaraka to Glasgow by Alexandra Milsom at Ludbrook House, Ohaeawai, daily from 10-4pm. Opening preview on December 4 from 11-3pm Dec 5, Cantoris Kerikeri presents Messiah with 10 of Northland's finest voices in the mission church of St John the Baptist, Waimate North, at 3pm. Admission by programme $20 at door. Until Dec 9, Broken- Hearted: New work by Theresa Reihana at Village Arts Kohukohu. Northland musicians wanted Musicians from North- land could perform with New Zealand's top artists at rock concerts on Urupukapuka Island this summer. Promoters of the Live at the Islands concert series are looking for Northland singer/ songwriters (solo artists and bands) to support acts including Anika Moa, Nathan Haines and the Topp Twins. Go to www.arkpre sents.co.nz for more information.
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December 1st 2010