The government has now passed legislation that extends the bright-line test from its original two years to five years. This means that before you consider selling any property within five years of purchase you should consider the effect of this law before you proceed.
Lana McCarroll
The Supreme Court has released a short and sharp decision which acknowledges that Judges can make mistakes, but mistakes won’t always afford a further right of appeal.
In Myall v Tower Insurance Ltd [2018] NZSC 35 the Court was required to exercise its gatekeeping powers in considering whether to ...
While company directors may face claims from several sources (e.g. legislative breaches), the most common claims are from those whom they have offered personal guarantees in connection with the company’s activities.
A common feature of asset plans is for people to set up a Family Trust with the intention of divesting themselves of assets, thereby improving their chances of being eligible for a Residential Care Subsidy (RCS).
The individual (“Settlor”) or couple (“Settlors”) sell the family home to the trustees at ...
As predicted by many commentators, the election of a new Government in 2017 has meant a flurry of interest in further changes to the Resource Management Act (RMA).
Last week the Employment Court found retailer Smiths City Group Limited (Smiths City) has breached the Minimum Wage Act 1983 by failing to pay employees for morning meetings held before the store opens. Smiths City are required to conduct an audit to quantify the cost of non-compliance, and then make ...
In rare cases, a developer may start construction or refurbishment of a building without securing any tenants. In such cases, the developer would need to be confident in the market and have significant capital to finance the build as lenders will generally require a certain level of preleasing prior to ...
With the increasing unaffordability of housing in our main centres, many local authorities, Housing Trusts, and even public companies like Fletchers are looking at shared equity schemes as a way of bridging the gap between the market value (say $600,000) and what first time buyers can afford to pay ...
What do the proposed changes in the Overseas Investment Act mean for you?
Given the current economic uncertainties, it is timely to consider the duties of company directors. The penalties for breaches can be harsh, and it is important to be aware of your responsibilities to the company, its shareholders, and third parties.
When buying or selling houses, everyone wants to ideally get along during an often stressful ordeal. Vendors commonly agree to let a purchaser into a property before settlement to store items or complete repairs. But as well-intentioned as these arrangements are, there are some real risks you should protect yourself ...
Obtaining an insurance policy and paying the premiums is only the first step to ensuring that your business has insurance cover when it needs it. An often overlooked or at least underestimated aspect is that the typical liability insurance policy has specific requirements about notifying your insurer of a potential ...
2016 saw the six-year anniversary of the 4 September earthquake and many insurers granted further time to property owners to bring claims. A number of those deadlines are looming again over the coming months, and this may impact on property owners and their ability to pursue their insurance claims.