June 2022 Last year, the Inland Revenue Department (IRD) imposed new requirements for disclosures and the preparing of financial statements by trusts. This was done largely to prevent trusts from being used to avoid the new 39% tax rate. Now, for the recent income year (and subsequent years), trustees will need to make disclosures to… Read More.
June 2022 The loopholes in the Construction Contracts Act’s (Act) retentions regime are about to tighten. Contractors are set to face an increased administrative burden when managing retentions. There will also be significant consequences if the Act is not complied with. This article outlines the changes that are currently being considered by Parliament. A retention… Read More.
June 2022 New Zealand’s trust law had the most significant development in over 60 years when the Trusts Act 2019 (the Act) came into force early last year. The Act serves to clarify and improve the accessibility of trust law. This includes setting out how a trustee who loses the capacity to act is removed… Read More.
June 2022 Nuts & Bolts The agreement An ‘off the plans’ agreement will be for a specific house or apartment in a development. An agreement can include conditions such as the purchaser arranging suitable finance and doing due diligence. If someone is considering purchasing a property ‘off the plans’ they should get a lawyer to… Read More.
June 2022 The recently released criteria for employer accreditation for work visas will rule out a number of businesses for accreditation, with others potentially no longer wanting to try applying – businesses who could be desperate for specialist workers from overseas. The criteria are part of a package of instructions from Immigration New Zealand on… Read More.
March 2022 The Resource Management (Enabling Housing Supply and Other Matters) Amendment Bill which seeks to rapidly accelerate the supply of housing in urban areas has been passed into law. From August 2022, councils will be forced to allow townhouses of up to three storeys with up to three dwellings on almost all residential sites… Read More.
March 2022 Employers looking to employ skilled migrant workers will be impacted by this year’s introduction of the Accredited Employer Work Visa (AEWV) - a new temporary work visa that opens to applications from employers on 9 May 2022 and to applications from migrants on 4 July 2022. This change will impact many employers, in… Read More.
March 2022 What is it? Buying a property that has not yet been built, or is in the process of being built, is commonly called buying ‘off the plans’. There are quite a few differences compared to buying a property that already exists. Buying off the plans is often a way to buy into a… Read More.