From 1st April 2018, Inland Revenue will introduce the Accounting Income Method (AIM) for calculating provisional tax. Existing provisional tax system Provisional tax is a sort of “pay as you earn” system for people whose income is not taxed at source. Anybody whose net tax is greater than $2,500 for the year, must pay provisional …

There are various reasons for setting up a family trust. One of the most common is to put your principal assets away somewhere “safe”, so if things go bad in future, at least your home and other investments will not be lost. The idea is that you would own no major assets, as they would …