August 25, 2021 In Bramwell Bate News By Adam Harris

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...

July 29, 2021 In Bramwell Bate News By Adam Harris

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
June 15, 2021 In Bramwell Bate News By Adam Harris

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...