23 March 2021
HOUSING PLAN: Prime Minister Jacinda Arden announced today that the proposed changes to soften the New Zealand residential property market by extending the Bright-line Test from 5 to 10 years and removing the deductibility of interest on investment property loans. The new bright-line test rules will take effect from 1 April 2021 and the new interest rules will commence from 1 October 2021.
22 February 2021
Resurgence Support Payment (RSP): From 23 February 2021, eligible businesses that experienced a drop of 30% or more in revenue over a 7 day period when alert levels were increased, can apply for the payment.
15 February 2021
Alert Level 3: At 11:59pm on Sunday 14 February 2021, Auckland was forced into Level 3 lockdown for fear of a widespread community outbreak of the UK variant of Coronavirus. Read what financial support is available:
15 February 2021
Financial Support Tool: This is a very easy to use tool to assess the financial support you can get, if you are experiencing financial hardship brought on by the pandemic.
9 February 2021
Residential Tenancies Amendment Act 2020: Phase 2 of the New Tenancy Rules for Landlords takes effect from 11 February 2021. The rules cover security of rental tenure, changes for fixed-term tenancies, making minor changes, prohibitions on rental bidding, etc.
9 February 2021
Healthy Home Standards: A reminder that these standards covering heating, insulation, ventilation, moisture ingress & drainage and draft stopping came into force on 1 July 2019.
To view the Tenancy Services templates, go to:
27 October 2020
TRUST LAW REFORM: If you have a Trust, you should have been contacted by your solicitors about the new Trust Act that comes into force from 30 January 2021. There are a number of very important changes.
29 July 2020
Wage Subsidy Repayments: If you think that you may not have been entitled to the Wage Subsidy or the Extension, please contact us to review your position and if required, assist in repaying it to MSD. We totally understand that some businesses haven’t been affected as badly as first anticipated due to proactive measures put in place by some employers.
17 July 2020
Trusteeship: You have been asked by a valued friend or relative to act as a Trustee for their Trust. Should you accept? https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12347932
9 June 2020
Commercial Tenancies: The Ministry of Justice has published a guidance for commercial landlords, tenants, lenders and borrowers to navigate us out of the effects of COVID-19.
20 April 2020
For Landlords (Residential): For the latest coverage on issues relating to landlords as a result of the Covid-19 crisis, in respect of rent increases/decreases, restrictions on ending tenancies, maintenance, inspections, bonds, etc., please refer to:
15 April 2020
Government Initiatives for Businesses due to the Covid-19 Crisis:The full suite of Government Initiatives introduced since 17 March 2020, namely:
are set out in an easy Q&A format at:
18 March 2020
COVID-19 Government $12.1b Economic Package: The Government announced its Stimulus Package on Tuesday 17 March 2020. Prior to its announcement, Prime Minister Jacinda Ardern said, ‘ it will be the most significant package I will announce while I am Prime Minister’. The $12.1b package includes $2.8b for business tax changes, Wage Subsidies of $5.1b, Covid -19 Leave of $126m, Income Support of $2.8b, Extra Health Funding of $500m, Aviation Support of $600m and Redeployment Package of $100m. To find out how the Package supports Employers, go to:
1 March 2020
Is your business open for business over Easter? Is Easter Sunday a holiday? Our friends at MBIE have provided employers with some guidance:
19 February 2020
Rental Reforms: This is a good report by stuff on the Residential Tenancies Amendment Bill. Among the proposed changes that will impact every landlord, is the end to the 90 day ‘no cause’ eviction notices. Is this another burden for the over-regulated landlords?
14 February 2020
ACC drops cheques: The ACC will no longer accept cheques from 1 March 2020. They will accept Credit card payments but be aware that there will be a 1.9% ‘convenience’ fee. For other payment options, please refer to their Newsletter.
14 February 2020
CORONAVIRUS – COVID-19: This deadly virus has impacted a lot of businesses in NZ and this special publication from the Ministry of Business, Innovation and Employment (MBIE), provides some very useful information for anyone who may be impacted. https://ub.comms.business.govt.nz/mail/view/bfbz8lpsg46430wz13cw2q2nbs0h5bhw5y4hw_21r4wjkmdj1yd2bpgdb3b_pcpg9z_dx26rpsg8wz0hr59jd
Please be careful out there and stay safe.
11 February 2020
IRD wants the Hospitality Industry to play Fair; you may get a visit from the IRD:
18 November 2019
Every Undeclared Cash Job Leaves a Trail: The IRD has issued notice that it will be looking very hard at the construction industries. How can the IRD track cash jobs? Can you put your affairs right (voluntary disclosure?) If you are contacted by the IRD, please refer them to us.
8 November 2019
What constitutes tax evasion, tax fraud and money laundering? The IRD has provided a number of examples in this factsheet and red flags that could show out evaders. Huge fines and penalties will be charged, if caught. Don’t gamble with your taxes.
30 October 2019
The IRD is cracking down on the estimated $1b black economy; targets include the self-employed, cafes, restaurants, takeaways, bakeries, bars and liquor store.
30 July 2019
Personal Liability of directors whilst trading insolvent
8 April 2019
KiwiSaver: Changes made to KiwiSaver came into play from 1 April 2019 with the addition of 2 new contribution rates for employees – 6% and 10%. Westpac’s NZ General Manager of Consumer Banking and Wealth has been quoted as saying, ‘The 6% option looks like a real winner, with almost half of those planning to change their contribution choosing this rate.’ There is no change to the employer contributions, hence, no reason why employers shouldn’t be alerting staff about the change. For further commentary on this:
12 March 2019
New Employment Law Changes taking effect on 12 December 2018 and 6 May 2019 are now legislated. The changes that took place in December includes the entry of Union delegates to the work place and where businesses must enter into bargaining for multi-employer collective agreements. The changes in May includes the restriction of the use of 90 day trial periods and the right to set rest and meal breaks.
12 March 2019
IRD Tax Investigation 101: what do you expect with an IRD investigation of your financial affairs.
23 October 2018
Prenuptial Agreements (Contracting Out Agreements) demystified.
20 September 2018
The first interim report is issued by the Tax Working Group. Highlights include Capital Gains Tax, GST and Business Tax.
5 September 2018
Our clients are reminded every year to ensure that their Wills represent their current wishes, yet there are a few who can't seem to find the time to put one in place.
23 August 2018
The way we file our PAYE Returns will be changing from 1 April 2019. Read the IRD fact sheet and be prepared for the changes.
29 March 2018
The Bright-line test to determine if the sale of a residential property is subject to income tax has been extended from 2 to 5 years.
8 February 2018
Food Act: If you are in the business of selling food, you must register under the new Food Act by 31 March 2018.
20 December 2017
The cost of your entertainment
30 November 2017
With the Loan To Value (LVR) restrictions meeting some of the objectives in cooling the property market, the Reserve Bank is looking at easing these: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11949644
20 November 2017
The Government Announces changes to tertiary funding from 2018:
17 October 2017
The IRD is cracking down on cash-jobs that are not declared by tradesmen: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11933837
From fart tax to google tax; weird Tax Rules from around the world; https://www.cnbc.com/2014/02/14/top-12-weirdest-tax-rules-around-the-world.html
22 September 2017
Australia taxes ghost homes:
10 August 2017
Is the lease surrender payment to the landlord a capital or revenue receipt? This is confirmed by the High Court: