September 8, 2022 In Bramwell Bate News By Cherie Hannam

Attribution vs market salary rules

The introduction of the 39% tax rate for individuals who earn over $180,000 from 1 April 2021 has reignited Inland Revenue’s interest in the income attribution and market salary regimes. These rules currently prevent a person from having income earnt from individual efforts or “personal services” taxed through an associated entity at a lower tax rate. With an 11% difference between the top individual tax rate and the NZ company tax rate, the application of these rules is likely to...

September 4, 2022 In Bramwell Bate News By Cherie Hannam

Slip Ups between marketing brochures and signing of agreement

One of the clearly defined and longstanding requirements regarding the sale and purchase of land in New Zealand is that the agreement must be in writing and signed by both the accurate seller and purchaser. When the seller of the land uses a real estate agent to assist with the sale, that agent is the seller’s agent. Under the law of agency, any representation made by the agent is deemed to be on behalf of their seller principal. However, within the...

September 1, 2022 In Bramwell Bate News By Cherie Hannam

Trees under the Emissions Trading Scheme (Pre and post 1990)

As climate change issues come more clearly into focus, so do the relevance and effects of the Emissions Trading Scheme. If you are in the Scheme, or are buying or currently own a property that has trees that are affected by the rules and regulations surrounding the Scheme, then you definitely need to be vigilant. There is no doubt that combined assistance is required from your lawyer and accountant alongside the consultants that are at the coalface implementing and administering the...