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Choosing an executor for your Will - a trap to be wary of

Choosing an executor for your Will - a trap to be wary of

If the executor of your Will or administrator of your estate is an overseas person, they must apply to the Overseas Investment Office for an exemption for any residential property to be transmitted to them. Changes made in October 2018 to the Overseas Investment Act 2005 (OIA) mean that an estate with an overseas executor/administrator is likely to be affected by the regime.

By Steven Lee and Rika Louw - 15 Jun 2020

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Proposed Building Act changes

Proposed Building Act changes

Following on from last year's round of consultation, the Government has recently introduced the proposed changes to the Building Act. The Building (Building Products and Methods, Modular Components and Other Matters) Amendment Bill has had its first reading in Parliament and has now been sent to the Environment Select Committee with submissions due by Friday 10 July 2020. The changes will be particularly important for building product suppliers and manufacturers and the key changes are summarised here.

Following on from last year's round of consultation, the Government has recently introduced the proposed changes to the Building Act. The Building (Building Products and Methods, Modular Components and Other Matters) Amendment Bill has had its first reading in Parliament and has now been sent to the Environment Select Committee with submissions due by Friday 10 July 2020. The changes will be particularly important for building product suppliers and manufacturers and the key changes are summarised below.

By Andrew Skinner - 8 Jun 2020

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Government Announcement re small business rent disputes

Government Announcement re small business rent disputes

There has been much debate regarding what a fair rental reduction is under commercial leases where businesses have been affected by COVID-19. The Government had previously done nothing to assist either Landlords or Tenants in this situation.

This morning Government have announced a compulsory rent dispute process where the Landlord and Tenant have been unable to agree on a fair rent reduction during COVID-19 lockdown, which requires compulsory arbitration with Government subsidising the arbitration by about 75%.

By Melissa Higham - 3 Jun 2020

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Relief for Borrowers under the Property Law Act

Relief for Borrowers under the Property Law Act

As earlier signalled by the government, the Property Law Act has now been amended to the extent that a borrower under a mortgage now has 40 working days (previously 20 working days) after being served with a Property Law Act Notice for breach of a loan agreement, to remedy the breach.

By Tony Johnson - 1 Jun 2020

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Staff redundancies - how to avoid some of the common pitfalls

Staff redundancies - how to avoid some of the common pitfalls

With economists predicting a significant economic recession, it may be tempting for business owners to start reducing staff numbers. This will be particularly so for those businesses who have been relying on the wage subsidy to pay their employees' wages. However, it is unlikely that simply relying on a potential looming recession will justify making employees redundant in the eyes of the law.

By Claire Mansell - 25 May 2020

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Separation, asset valuation and Covid-19

Separation, asset valuation and Covid-19

Covid-19 has reduced the incomes of many and undermined the value of the family home, business and investments. These effects have made it especially challenging for separated couples attempting to resolve their relationship property issues.

By Dharsh Nanayakkara - 22 May 2020

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COVID response - Safe Harbours and Debt Hibernation Scheme now law

COVID response - Safe Harbours and Debt Hibernation Scheme now law

On 15 May 2020 the COVID-19 Response (Further Management Measures) Legislation Act 2020 became law. This means that two key insolvency measures aimed at addressing the serious insolvency risks arising from the COVID-19 crisis - the "safe harbour" regime and the "debt hibernation scheme" - are now effective in New Zealand.

By Mathew Martin and Bill Gambrill - 19 May 2020

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What are my entitlements if my employer is receiving the Wage Subsidy?

What are my entitlements if my employer is receiving the Wage Subsidy?

The government's Wage Subsidy Scheme is intended to assist businesses retain employees during the COVID-19 crisis by helping the employer to fund those salaries and wages. The scheme has now been extended for a further eight weeks for businesses that meet the new, more stringent eligibility criteria. Businesses will be able to apply for the extended subsidy from 10 June 2020.

By Aimee Elia - 18 May 2020

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Time for a change? Buying a franchise

Time for a change? Buying a franchise

The impact of COVID-19 may be felt for many months to come and will result in a number of people considering a change of direction or career. For some, the prospect of buying a business and being in more control of your own destiny will be appealing.  Franchising will be a popular option for those who have not owned a business before and a number of franchisors have seen their levels of enquiry increase over the lockdown period.

By Andrew Skinner - 15 May 2020

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What are my entitlements to paid leave?

What are my entitlements to paid leave?

New Zealand entered alert level 2 at 11.59 pm last night and with that change, most businesses will be able to open their doors to customers for the first time in six weeks. Schools are also set to welcome back students as of Monday 18 May. While the relaxation of restrictions are welcome, we are not entirely out of the woods yet. Businesses and schools will have strict health and safety management plans in place to reduce the potential spread of COVID-19. For some people, this will mean they cannot attend work/school if they are unwell, or until they have been tested and cleared for the virus.

By Aimee Elia - 14 May 2020

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