The new two year rule

It is proposed to make the profits on sales of residential property taxable if sold within two years of acquisition, subject to certain limited exceptions.  There will be no "purpose" or "intention test" to determine whether profits are taxable, as is presently the case.  This is not law yet but it seems very likely it…

Unit Titles and Leasing

Leasing unit titles is more complex than other forms of leasing. The Unit Titles Act 2010 (UTA) and the body corporate operational rules will prevail over the lease. The landlord might only have a very small say in how that plays out. This depends on their individual voting power. There is another layer of rights…

The Death of Common Sense

"It’s the death of common sense" he said leaning on my doorframe, frustration etched on his face.  This was the third visit – trying to provide information to the bank suitable to meet anti-money laundering requirements; – so he could get online access to a bank account.  Ronald* (*name changed for issues of privacy and…

Unfair Contract Terms

The Commerce Commission has long been the watchdog for consumers purchasing goods and services in New Zealand.  Part of their role is to protect consumers from traders or sellers who engage in unfair or deceptive conduct. Historically this has involved monitoring activity such as collusion between firms and price fixing, which leads to a hike…