Welcome to the Sharp Tudhope Lawyers' blog. Here you will
find topical information and advice relating to a wide range
of areas of law, written by our legal experts.
Tuesday July 14, 2015
The Companies Amendment Act 2014 has introduced two key changes to compliance requirements for directors:
Tuesday June 30, 2015
Two new pieces of legislation will affect the way landlords and tenants view their responsibilities for strengthening buildings and for ensuring they provide a safe place of work.
The Building (Earthquake-Prone Buildings) Amendment Bill (EPB Bill) will establish timeframes within which building owners must assess and then either strengthen or demolish buildings identified as earthquake-prone.
Tuesday May 26, 2015
Many people forget that a trust is not a legal entity in its own right like a company - the trustees are the legal entity/owners of the trust property for the benefit of the beneficiaries.
As such, trustees are personally liable for all liabilities incurred for the trust, including debts to third parties. This personal liability is subject to:
Wednesday May 13, 2015
The Inland Revenue is clamping down on property speculators and land traders.
Although, it is widely said that New Zealand does not have a capital gains tax, in certain circumstances capital gains on land transactions are in fact taxable.
There are five main categories of taxable land transactions. We’ve summarised the key things you need to know to take away the guesswork.
Wednesday May 6, 2015
A bankrupt’s KiwiSaver is off-limits to creditors, according to a recent decision of the Court of Appeal.
The circumstances under which your KiwiSaver funds can be accessedare:
- for the purchase of your first home;
- when you are over 65 (i.e. for retirement); or
- earlier if you become seriously ill or are in a situation of significant financial hardship.
Tuesday April 21, 2015
Many people say “we don’t need a Contracting Out Agreement because we don’t own anything!” Assets like Kiwisaver or life insurance are often overlooked; and many people during the course of their lives receive an inheritance, which is worth protecting.
Under the law, if you receive an inheritance while married or in a de facto relationship, it is your property and you are not legally bound to share it with your spouse or partner. Of course, in many cases, people choose to do so regardless. In other cases, your inheritance can become relationship property without you even realising it.
Wednesday April 1, 2015
Most first home buyers will be aware that you can withdraw Kiwisaver funds to apply towards your first home purchase.
You should also be aware that changes on 1 April 2015 mean that you can get even more!
Thursday March 12, 2015
The full force of the Financial Markets Conduct Act 2013 (“FMC Act”) came into effect on 1 December 2014. If you are an issuer of securities you will need to ready yourself for the transition to the FMC Act.
Thursday March 5, 2015
On 6 March 2015 the Employment Relations Act is changing. Here are the 6 key changes:
1. Refinements to employers’ disclosure obligations
The duty of good faith in section 4 will be amended to extend the circumstances in which an employer may refuse to disclose information to an employee whose position is being restructured.
Employers will be entitled to withhold confidential information about a person other than the affected employee, but only if it involves unwarranted disclosure of the affairs of that other person.
This amendment addresses the conflicting obligations to disclose personal information under the Act and the duty not to disclose personal information under the Privacy Act.
Wednesday March 4, 2015
On 17 March 2015, changes to the Fair Trading Act 1986 (the “FTA”) are due to come into effect. These changes will specifically regulate what can be described as "standard form consumer contracts" (which may in fact also include business-business contracts relating to consumer goods) to address concerns about consumer contracts, or specific terms in consumer contracts, being unfair.