Author Archive

AML and what it means …

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The 1st July 2018 brought a significant change for law firms and other professionals. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Law) came into effect meaning that law firms and professionals have had to change their procedures in relation to client information gathering.

This law is part of a global initiative and its purpose is to demonstrate New Zealand’s commitment to take counter measures to prevent criminal activity and to bring those who partake in such criminal ...

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Is the sale of my property subject to tax?

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The “bright line test” was introduced in 2015 in an effort to tighten the property investment rules. Originally the bright line test provided (subject to exemptions) that any gain received from the disposal of a residential property, within two years of its acquisition, was taxable. The government extended the bright line from two years to five years on the 29th March 2018.

It is important to note that the test only applies to residential land and does not include farms or ...

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Categories: articles, property

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Letting your Home or Holiday House for Short Term Rental

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With easy to use websites such as Airbnb or BookaBach it is becoming increasingly popular for many New Zealanders to let their holiday houses, or their main home, to short-term visitors. Any why not?! It is a fantastic way to make an additional income for your household. There are a few things however that you should consider before letting out your property for this purpose which include the following;

Council requirements

Check your District Plan for permitted activities in your zone. The ...

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Categories: articles, property

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Thinking Outside the Box to Home Ownership

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Buying your first home is a very exciting time. Unfortunately, rapidly increasing house prices means that it is becoming increasingly difficult for first home buyers. This coupled with the rental shortage has put many families in difficult situations.

In the recent election, many promises were made to improve the New Zealand housing situation and provide more security for renters. The best form of security may be for renters to get creative with their options to secure a home of their own.

Most ...

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Categories: articles, property

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Careful Planning Needed for Blended Families

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Blended families are becoming increasingly common and careful planning is required to reduce the risk of challenges to your estate on death. There is often a conflict between your obligations to provide for your current spouse/partner, and your obligations to your children from your previous relationship. You may be quite happy to provide for your spouse or partner in the event of your death. However, You may not be so keen for your assets to then pass to your partner’s ...

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Categories: articles, Wills

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