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Bramwell Bate News
July 11, 2018 In Bramwell Bate News By Bate Hallett

Snippets

Residential Land Withholding Tax – What is it and does it apply to you? Residential Land Withholding Tax (“RLWT”) is a tax deducted from residential property sales if the following applies: 1. The property being sold is residential land in NZ. 2. The sale amount is payable or paid after 1 July 2016. 3. The seller: (a) Bought the property on or after 1 October 2015 through to 28 March 2018 inclusive and owned it for less than two years before selling; or (b) Bought the property on or after 29 March 2018 inclusive and owned it for less than five years before selling; and (c) Is...

July 11, 2018 In Bramwell Bate News By Bate Hallett

A Review of Labour’s 100 Day Plan

Before the election, the Labour Party laid out a plan with 18 key goals to achieve within their first 100 days in office (“100-day Plan”). This 100-day Plan was adopted and implemented by the Labour-led coalition Government (“Labour”). This article aims to provide an analysis of the progress of some of the key goals as well as touching on some future policies that Labour intends to implement that may affect you. Goal 3: Pass Healthy Homes Guarantee Bill (“HHGB”) The HHGB was passed in December 2017 and requires that any new tenancy from 1 July 2019 must be either properly insulated or...

July 11, 2018 In Bramwell Bate News By Bate Hallett

Disputes Resolution Series: Negotiation – How can it help you?

Alternative Dispute Resolution (“ADR”) methods are an alternative option to going directly to court. Using ADR methods instead of pursuing the matter in court is commonly more cost effective for the parties involved, ADR may also take less time to resolve the dispute. ADR relieves the court of cases which they believe can be resolved without court assistance. This article is the third and final article in our ADR article series and will focus on negotiation. Negotiation is usually the first method of dispute resolution used when a dispute occurs. This is because negotiation has the ability to be quick, inexpensive...

July 11, 2018 In Bramwell Bate News By Bate Hallett

Cross-leases – What are they and what implications do they have?

Historically, cross-leases were a popular form of dividing land for land owners. This is because owners could avoid certain subdivision restrictions and would gain similar results to a formal subdivision under the existing Act, but at a fraction of the price. However, when the Resource Management Act 1991 was introduced, it made significant changes to the existing subdivision laws and practices, which meant that cross-leased properties were deemed to be a subdivision and were no longer a way to avoid subdivision requirements and costs for landowners. As such, we are seeing the slow sifting out of cross-lease properties across New Zealand,...

Bramwell Bate Home Slider
July 11, 2018 In Bramwell Bate News By Bate Hallett

Lease Agreement versus Tenancy Agreement – What is the difference?

We regularly see clients interpreting lease agreements and tenancy agreements as being the same document. However, while both agreements are similar, it is important to understand the differences. Lease Agreements (“Lease”) A Lease is a contract between a landlord and a tenant for a commercial building. Leases are typically very detailed in regards to the conditions of the tenancy so that there are no discrepancies or issues during the term. Leases cover the responsibilities (“warranties”) of both the tenant and landlord in detail. Some warranties given by the landlord are in compliance with the Health and Safety at Work Act 2015 and to...

Bramwell Bate News
February 15, 2018 In Bramwell Bate News By Bate Hallett

Snippets

Who pays the rates?-Selling a property Property Rates are due throughout each respective council’s prescribed rating periods. Payment may be made six monthly, four monthly, three monthly or annually. When selling your property, you are required, at settlement, to pay the rates up to and including the settlement date. In practice, the Vendor will pay the rates to the end of the current rating period and the Purchaser's share of the rates will be apportioned in the settlement statement and paid to the Vendor by the Purchaser. For example: If the second instalment is from 1 October 2017 – 31 December 2017 and settlement...

Bramwell Bate Home Slider
February 15, 2018 In Bramwell Bate News By Bate Hallett

Proposed Changes to the Employment Relations Act 2000-What you need to be aware of

During Labour’s election campaign, the Party released a plan which detailed their intentions for their first 100 days in office (“100 Day Plan”). Since the campaign, the Labour-led Government has released the proposed changes to the Employment Relations Act 2000 (“ERA”) which are predicted to affect New Zealand’s employment landscape significantly. In this regard, it is important to be aware of what changes Labour are proposing and how the changes may affect you. The proposed changes are recorded as: 1. The amendment of the existing 90-day trial period as implemented by the former National Government (“trial period”); 2. The...

February 15, 2018 In Bramwell Bate News By Bate Hallett

An Introduction to Shareholders’ Agreement-Why are they important?

A shareholders' agreement (“Agreement”) records the arrangements between the shareholders and directors of a company regarding the ownership, government and management of the company. Companies are not required to implement an Agreement by law. However, implementing an Agreement is recommended as it is designed to address areas regarding governance and control of business activities, whether external or internal, which a company constitution or the Companies Act 1993 may not specifically address. For example, the Companies Act 1993 may not provide specific guidance regarding the process for shareholders exiting a company. This is where an Agreement can be used by shareholders to...