The Supreme Court’s recent decision in Cooper v Pinney [2024] NZSC 181 (“Cooper”) has clarified the extent to which trust powers may be considered relationship property under the Property (Relationships) Act 1976 (PRA), refining the scope of its earlier landmark ruling in Clayton v Clayton [2016] NZSC 29 (“Clayton”). THE DIFFERENCES BETWEEN CLAYTON AND COOPER

The Government announced a proposed increase of the trustee tax rate (from 33% to 39%) in Budget 2023. This change, due to take effect from 1 April 2024, would set the rate at which trustee income is taxed at the same as the top individual tax rate. The intention here is to prevent taxpayers from