Employment agreements from an employer perspective–make sure your employment agreements, and their clauses, stand up against the law

An individual employment agreement (Agreement) is a written agreement that contains the terms and conditions of the employment as negotiated by an employer and employee. An Agreement is a useful tool with which the employer can set clear performance expectations, standards, processes and responsibilities for an employee before they start work. It is also used as a reference point in employment disputes. It is a requirement of the Employment Relations Act 2000 (the Act) that the employer holds a copy of...

Commercial leases–what to look out for

A commercial lease (Lease) can be a complicated agreement with binding implications for both the landlord and tenant. Before you enter into a Lease, it is vital that you understand the rights and responsibilities of each party. The following are some of the more notable points of a Lease for your consideration when negotiating and/or reviewing your Lease. One of the most basic but important considerations of a Lease is the renewal dates. A common wording for a renewal clause is...

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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...