Discussion on Whānau Trusts
01 Feb 2013 | NewsSome administration of the whānau trust is required. An IRD number had to be obtained. We get a small amount of dividend payments each year and a tax return has to be prepared.
Some administration of the whānau trust is required. An IRD number had to be obtained. We get a small amount of dividend payments each year and a tax return has to be prepared.
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This is an important provision given that there will always be a number of potential conflicts of interest in the Māori world.
The idea was that an individual or a whānau could consolidate their shares across a large area and in a large number of blocks with many owners, down into a particular piece of land that they would call their own.
Within the Māori Land Court districts, average ownership numbers range from 51 owners per block in the Tākitimu district to 154 owners per block in the Waiariki district.
This is an important provision given that there will always be a number of potential conflicts of interest in the Māori world.
A shareholder will own a certain number of shares in an incorporation. Ngā kaiwhaipānga Beneficiaries Beneficiaries are the people who benefit from any development(s) from a trust or block of land.
This will also free up judicial time for more complex matters before the Māori Land Court. Other changes A number of minor and technical changes have been made to improve the operation of Te Ture Whenua Māori Act from February 2021.
Conflicts of interest arise in a number of different situations. Judges should be alert to any appearance of bias arising out of connections with litigants, witnesses or their legal advisors, and should always inform the parties of facts that might reasonably give rise to a perception of bias or conflict of interest.
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www.maorilandcourt.govt.nz 9 Ngā Tari o te Kooti Whenua Māori Te Rohe o Te Taitokerau Tari Rēhita L2, Manaia House, Rathbone Street WHANGĀREI 0110 DX Box AX10086, WHANGĀREI W (09) 983 9940 Wh (09) 983 9941 Ī mlctaitokerau@justice.govt.nz Tari Awhina – Tāmaki Makaurau 65B Main Highway, Ellerslie TĀMAKI MAKAURAU 1051 DX Box EX10912, TĀMAKI MAKAURAU W (09) 279 5850 Wh (09) 279 5852 Ī mlctamakimakaurau@justice.govt.nz Te Rohe o Waikato-Maniapoto Tari Rēhita L2, BNZ...
Documents/Guides-Templates-Factsheets/MLC-maori-reservations-tereo.pdf (387 kb)