November 18, 2022 In Bramwell Bate News By Cherie Hannam

Executors and trustees of a Will

All Wills need executors and trustees. These days, while there may be more than one of them, the executor and trustee is usually the same person in a Will. This has not always been the case and the roles remain complementary and different. The executor role is usually related to the coordinating and finance arrangements for and with the deceased’s family: whether he or she was to be buried or cremated, reviewing the Will content and progressing to carry out the...

November 15, 2022 In Bramwell Bate News By Cherie Hannam

Changes to the Fair Trading Act

The Fair Trading Amendment Act 2021 came into force on 16 August 2022. The Act has been introduced to put in place new protections against unfair practices, by extending the protections against unfair contract terms under the Fair Trading Act 1986 and prohibiting unconscionable conduct. The types of contracts that are captured under by the Amendment Act include terms of trade and independent contractor agreements. A contract is subject to the amendments under the new Act when it is in standard...

November 11, 2022 In Bramwell Bate News By Cherie Hannam

Residential Land Withholding Tax: When and who pays it?

Residential Land Withholding Tax (RLWT) was introduced in July 2016. This is where lawyers and conveyancing agents acting for an offshore person in a residential sale will withhold the RLWT and pay it directly to the Inland Revenue Department. If the vendor is not an offshore person and the sale of the residential property happens within two years of obtaining the property where the house does not qualify as a “main home”, this sale will be subject to tax also. There...