Bramwell Bate is open for business during Covid-19 Alert Level 2.

Our office is now open and operating under Government guidelines to ensure we keep both you and our team safe.
To limit the number of clients at our office at any given time, we are carefully scheduling client meetings.
We have QR Code and contact tracing at the office entrance, along with hand sanitiser and disposable face masks.
We look forward to seeing you again soon.

 

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Enduring Power of Attorneys: A Brief Guide

Life can be uncertain and we never know what is just around the corner. No matter what age you are, anyone could have an accident or become seriously ill. In these circumstances, someone needs to step in and make sure the bills are paid, the kids are looked after and you are being cared for properly by the people around you making decisions. An Enduring Power of Attorney (“EPA”) is a document which appoints someone to make decisions on your behalf...

New Purchase Price Allocation Rules

The purchase price allocation (“PPA”) income tax rules came into effect on 1 July 2021. These rules are particularly significant to those selling and purchasing commercial property and businesses. PPA is where parties allocate the total purchase price among the various types of assets in a transaction, such as buildings, stock and plant etc. For transactions entered prior to 1 July 2021, parties could allocate the purchase price to assets outside of sale and purchase agreements to achieve more favourable...

Estate Administration

When a person dies, their assets and property are known as their “estate”.  This could include bank accounts, life insurance policies, superannuation schemes, KiwiSaver, investments/shares, property and vehicles as well as personal and household items. If the deceased person is known to hold a Will, then the original copy of the Will is likely to be held by the law firm who assisted in preparing the Will.  A Will specifies the wishes of the deceased, at the time they wrote it. The...

Kiwis returning home - International Arrivals

Return of the Brains Trust

First published in The Profit. Written by Christine Symes. If there is a silver lining when talking about the global COVID-19 pandemic, it has to be the return to our shores of thousands of highly skilled Kiwis. For years, New Zealand has been a casualty of what has been termed ‘brain drain’, as highly qualified New Zealanders left in search of opportunities aboard. Recent figures show that over 50,000 expats have already returned home, with predictions that as many as 500,000 are likely...

Changes to Tax Deductibility on Interest Expenses

In late March earlier this year, the Labour Government announced a number of changes regarding the New Zealand housing policy in an attempt to make the housing market more affordable, particularly for first home buyers. This article specifically discusses interest expense deductions on residential properties and how these will change. Currently, when owners of residential investment properties (not their main homes) complete their annual tax returns, they can deduct any interest paid on loans from their taxable income as an expense....

Removal of incapacitated trustees under the new Trusts Act 2019

The new Trusts Act 2019 has had a far-reaching impact on all aspects of trust law. One of its very sensible and practical amendments is to assist in streamlining the process when a trustee under a trust becomes incapacitated. The outcome is that, where a trustee has lost mental capacity and is deemed medically unable to carry out the trustee function with its related duties, they may be relieved of those duties. The regular focus on trust administration will mean that trustees’...

New Zealand/Australia Travel Bubble Requirements

COVID-19 is ravaging the world. New Zealand and Australia have fared well in containing and limiting its impact on their populations both personally and economically. However, certain sectors of commerce have been stopped in their tracks. The hospitality industries, with all their supporting services from airlines to vineyard workers, together with all the dots joined in between, have been limited to local support only. The New Zealand and Australian governments have extensive structured quarantine requirements in place, which have been adapted...

Recent change to the bright-line test

The new rules around the bright-line test have been hard to miss in recent days, but what do they mean for the average person buying a residential home to live in? The bright-line test has been amended over the years and as such, there are three different rules to consider depending on when you purchased your residential property. For a residential purchase between 1 October 2015 and 28 March 2018, the bright-line period was just two years; this test is now...