November 17, 2021 In Bramwell Bate News By Cherie Hannam

Trusts: When is a Loan Really a Distribution?

Loans to beneficiaries are often made without proper consideration as to whether the powers being exercised will affect the preservation of trust assets or how these will affect any benefits to beneficiaries. Recording a payment to a beneficiary as a loan does not conclusively make it so, and such a misrepresentation could put the trustees in breach of their duties as a trustee. Under the Trusts Act 2019, trustees have a mandatory duty to act honestly and in good faith (s 25)....

November 5, 2021 In Bramwell Bate News By Adam Harris

Government announces bipartisan Bill aimed at addressing New Zealand’s housing shortage

On 19 October 2021, Labour and National announced a bipartisan Bill aimed at addressing New Zealand’s housing shortage. The Resource Management (Enabling Housing Supply and Other Matters) Amendment Bill proposes to cut the red tape that is currently obstructing housing development in some parts of the country. To do this, the Bill proposes to strengthen and bring forward the implementation of the Government’s National Policy Statement on Urban Development (NPS-UD) issued in July 2020. This statement was directed at supporting...

October 22, 2021 In Bramwell Bate News By Adam Harris

Commercial tenancies and the Government’s proposal aimed to ease the burden on businesses impacted by current restrictions

As COVID-19 alert levels continue to fluctuate across New Zealand, many businesses are feeling the cost of being unable to operate. Restrictions on movement are impacting income streams and placing significant financial burden on some businesses. As a result, many business owners have expressed concern over their inability to meet rental costs. To ease this burden, the Government has proposed changes to commercial tenancies via the COVID-19 Response (Management Measures) Legislation Bill (the Bill). The Bill aims to amend the...