News

Trustees' Expenses

February 19, 2021

Should be reimbursed, but no need for extravagance. When trustees incur expenses, they are not expected to be out of pocket in carrying out their responsibilities. Trustees are entitled to use trust money or to get a refund from the trust fund if they incur expenses in carrying out their duties. Trustees’ expenses, however, must be fair and reasonable. A recent case shows why it is also important to be sure that you can trust your trustee not to take advantage of the right to claim expenses.

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Succession and Trust law changes

February 19, 2021

A significant change to the succession laws relating to Māori land came into force on 6 February 2021 (Waitangi Day). Te Puni Kōkiri states that the amendments to Te Ture Whenua Māori Act 1993 are intended to better support whānau to succeed to their land by:

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Having a puff at work

February 5, 2021

New Zealand laws have finally caught up with vaping (also called e-cigarettes) that have, for some time, enjoyed freedom from the country’s strict tobacco regulation. Since 11 November 2020, however, all vaping products and behaviours must now be treated the same as for tobacco products and smokers. All businesses and employers should be aware of the changes to SmokeFree legislation; for retailers of any vaping-related products these changes are especially important.

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Raising Capital for your Business

February 5, 2021

The COVID pandemic has paved the way for innovation, and many New Zealanders spent 2020 investing time and money into their new or existing businesses. When raising capital to grow their business, however, many business owners find themselves limited by the size of their wallet. While interest rates are currently at an all-time low, trading banks’ lending terms are arguably the strictest in recent memory.

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The Finite Supply of Water

December 18, 2020

Water is an absolute necessity for any type of farming or horticultural activity. Historically viewed as an infinite and expendable resource, water is now seen as having a finite supply and must be dealt with as a commodity. The right to access water from a source, such as a spring or well, and the right to use that water are different, but related, issues.

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Investment in Farming

December 18, 2020

With the current low interest rate regime looking set to continue for some time, investors are increasingly looking at ways to generate a reasonable income either for their retirement or for other forms of saving. Recently, commercial property syndicates have come back into fashion. Their popularity is based on the return that they are able to provide to investors, notwithstanding the risks inherent in that sort of investment.

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Holiday Houses

November 23, 2020

With New Zealand’s borders closed and overseas travel restricted for the foreseeable future, many Kiwis will be looking to rent a holiday home for the traditional summer holiday this year. There are plenty of options on sites such as Bookabach, Holiday Houses and Airbnb as well as renting a holiday house privately. Whether you own a holiday home and are looking for some extra income, or you want to rent a place for the whānau Christmas, there are a few things to remember.

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Directorships Mean Significant Obligations

November 23, 2020

Hefty consequences for getting it wrong when company was in financial distress. In September 2020, the Supreme Court released its keenly anticipated decision in the Debut Homes case . This decision illustrates the risks for directors where a company is experiencing irrecoverable financial distress.

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Understanding Your Property Title

October 20, 2020

Before you buy a property it is important that you understand exactly what you are purchasing. Your property title records (or should record) all of the interests that affect your title. That way, you are fully informed about any rights or obligations you may have – before you buy.

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Changes to the Building Act 2004

October 20, 2020

Changes to the Building Act 2004 came into force on 31 August 2020. The changes vary the circumstances under which you are required to obtain a building consent.

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