HE PĀNUI -1 Dec 2022

Tēnā koutou katoa land owners,

 

The Trustees are pleased to announce that a short-term lease (3year) for the Ngatarawa Land Blocks was signed off in March 2022. Trustees are aware that landowners moved a motion at the 2021 AGM to wānanga about options for the Ngatarawa land before signing, however, it was agreed by the trustees that a short-term lease be signed off to allow landowners to receive their dividend payments whilst we discuss future aspirations for the land. The new lease is viewable on this website. Click here for more information. 
 

On 4 December 2021 in conjunction with the AGM, we held the triennial election of new trustees. The election process followed the Trust Deed and was sanctioned by our legal authority prior to communicating out. Following the AGM/election one owner was not happy with the process and wanted an explanation as to why some parts of the election process were not explained more clearly. She and others chose to take the matter to a Judicial Hearing in April 2022. (This matter continues to be ongoing and is in the MLC hands).

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The issues that were raised above were directed to the former/current trustees by way of minutes of that judicial hearing. These minutes were received in June 2021. The Trustees decided to take the matter to its legal advisers and after a robust discussion, Trustees agreed that although the election process was followed and we had no reason to doubt our process, the Trustees suggested to the MLC judge that we were willing for the process to take place again but for the election to be fully facilitated by the MLC. The application for the Dec 2021 Election and new trustees was submitted with communication with the MLC judge. Trustees suggested that if the judge felt uneasy with our gesture, that he could accept our new trustees application. (This matter continues to be unfinished and in the hands of the MLC).

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In the meantime, a group of owners have sent concerns to the Trustees. A written injunction was sent to some, not all trustees from one of the owners with concerns. The Trustees have taken the injunction to our legal advisor who is working through the matters with the MLC. 
 

As Trustees, we continue to keep this website updated and hope that whānau continue to be engaged through this platform.  

 

Now that the Land Leases are locked in, dividend payments are also back into swing – ie. two payments per year (Jun-July and Dec-Jan). All owners are required to include their Dividends from the Ohiti and Ngatarawa Trusts in their Tax Returns every year subject to the following:

 

• They are required to file a Tax Return IF they receive any income over and above their Wages, National Super, or receive Interest and/or Dividends, in excess of $200pa.

• The dividends from the Trusts have a Resident Withholding Tax Credit attached that you can claim against your total Tax Liability.

• In order to calculate this amount, divide the amount received by .825, this will give you the Gross Dividend. Multiply this amount by .175 this will give you the RWHT figure.

• To check your calculations:  Gross less RWHT = Nett amount received.

• You need to return the Gross figure as Income and claim the RWHT as a Tax Deduction.

• Full dividend payments commenced in July 2022. If you are an owner and you were not paid, chances are we do not have your correct or current information. Please send your email to the secretary and writer of this update - Ruth Wong ruth@kahungunu.iwi.nz
  
  Ngā mihi nui ki a koutou katoa, Noho ora mai, 
  
  The Trustees