News and events

June two minute update


* June 2 minute update 9 things that can still go wrong with family home trusts* We often hear from firms that they’re not too worried about trusts as they don’t act as trustees for ones that are GST registered or trading. However, no professional trusteeship is without risk.


March two minute update


* March 2 minute update Annual return e-filing – you’re good to go! * We've been testing e-filing Annual Returns with the Companies Office with a small group of firms and are ready to make this widely available. We've kept this to filing annual returns only at the moment, those requiring any changes still need be made through the Companies Office website.


February two minute update


*Price reduction on connected Trustworks plans* We tested our pricing before launching Trustworks, but as the Brexit and US Election results demonstrated, the polls don’t always tell the truth. While we have strong uptake for higher-value trusts and firms making Trustworks mandatory where they’re trustee, we want Trustworks connected plans to be accessible for all trusts.


October two minute update


*News Precedent numbers now top 400* Trustworks now contains 168 trust precedents and workflows and Companyworks 251 precedents and workflows. They also come with 48 trust clauses and 10 company clauses, respectively.


June two minute update


  *Annual Returns* The Companyworks client engagement process for Companies Office annual returns is now live! As promised, this allows you to see all annual returns due to be filed in the month. By starting a workflow, you can automatically email the Companies Office extract information to your client. The client can then either approve the details, or make any necessary changes easily on a web-form. Depending on which option the client completes, the workflow progresses to advise you either that the Annual Report is ready to be filed, or to update the Companies Office and other systems with the new information the client has returned.   Please let us know if you’d like a demonstration.   *New Features – Companyworks* We’ve added the ability to bring in more information from the Companies Office on our initial set-up import, including the date the last annual return was filed and director appointment dates.


Deloitte chooses Connectworks


*Deloitte chooses Connectworks*  We’re thrilled to have the first of the ‘Big 4’ accounting firms choose to use both Trustworks and Companyworks.   *New staff*  Stephen a’Court joined us in January from Lexis Nexis as our Auckland-based Sales Manager. Hugh Walcott has also joined as a Product Manager.   *Seen Companyworks yet? * It’s new, but already comprehensive.


Xero add-on partner


We're please to announce we've been approved as an official Xero add-on partner.   Trustworks users can now connect their Xero balance sheet to have it directly available under the Trustworks reporting options.  More information and support in our help centre here[].  


The Law Commission and trusts


New Zealand is unique in its use of family trusts – we almost certainly have more trusts per capita than any other country although we cannot be sure of this because no register of trusts is kept. In any event, New Zealand, unlike other countries has many trusts that have been set up by people of relatively modest means, often with not much thought and, sometimes, not much professional advice.


To trust or not to trust


Although this sounds like relationship advice, I’m nowhere near qualified enough to write on this topic. Instead this brief article looks at whether you should be forming a Trust or not.