and business profits, assisted by low interest rates, Rest home care/subsidies and a lower NZ dollar value. We are often asked what planning is required to be able to successfully apply if full care is needed. WITHERS & CO LTD For the full subsidy, the present rule is the assets – you can jointly own are: February 2015 (a) your own home, jointly/personally (b) your car (c) up to $120,000 of investment funds. The Government support available is very valuable – for long term care. The present cost per year is $48,000 $52,000. Do not consider changing your home to a trust ownership this prevents you being – eligible for this subsidy. Gifts filed in the last ten years are added back to assets. are increasing numbers needing rest home care so plan early, obtain the best advice from us (and your Solicitor) to dispose of assets to your family. Disclaimer The ideal situation is to control these assets but not – be the owner. Public companies who are retirement This newsletter is of a general nature only and village providers, are among the best shares to own should not be used as a substitute for detailed for value increase in the last five years due to – professional advice. demand, pricing, for their services. Review of your wills/property ownership When did you last review your will? Are you aware what changes to your asset ownership there will be when you decease? Is there any improvement to be made now to ownership of your assets for tax saving, inheritance, family future ownership? Are you aware of the GST position with your inclusive assets owned at your death? We have been successful in improving vastly clients’ wills, assets, often jointly with their Solicitor. If you would like our advice on any aspect, now is an ideal time before the real busy tax time starts in early April. We expect 2015 to be an exciting year, with many opportunities for property purchase, value increase,
Rest home care/subsidies We are often asked what planning is required to be able to successfully apply if full care is needed. For the full subsidy, the present rule is – the assets you can jointly own are: (a) your own home, jointly/personally (b) your car (c) up to $120,000 of investment funds. The Government support available is very valuable – for long term care. The present cost per year is $48,000 $52,000. Do not consider changing your home to a trust ownership – this prevents you being eligible for this subsidy. Gifts filed in the last ten years are added back to assets. are increasing numbers needing rest home care so plan early, obtain the best advice from us (and your Solicitor) to dispose of assets to your family. The ideal situation is to control these assets – but not be the owner. Public companies who are retirement village providers, are among the best shares to own for value increase in the last five years – due to demand, pricing, for their services. Review of your wills/property ownership When did you last review your will? Are you aware what changes to your asset ownership there will be when you decease? Is there any improvement to be made now to ownership of your assets for tax saving, inheritance, family future ownership? Are you aware of the GST position with your inclusive assets owned at your death? We have been successful in improving vastly clients’ wills, assets, often jointly with their Solicitor. If you would like our advice on any aspect, now is an ideal time before the real busy tax time starts in early April. We expect 2015 to be an exciting year, with many opportunities for property purchase, value increase, and business profits, assisted by low interest rates, and a lower NZ dollar value. WITHERS & CO LTD February 2015 Disclaimer This newsletter is of a general nature only and should not be used as a substitute for detailed professional advice.
newsletter%20feb2015.docx