Please refer to our Summer of Fun social media campaign for competition rules.
Hamertons means Hamertons Lawyers Limited (HLL).
On 1 July 2021, the new Purchase Price Allocation Rules (PPA) came into effect. These new rules are aimed at stopping taxpayers from allocating asset values in a way that gives them a more favourable tax outcome when buying and selling assets. The rules do this by allowing one party to decide the price allocation if the parties do not record the allocation in a written agreement.
Our friends at Mata Brewery have had an amazing business success story that’s too good not to share. From brewing as a passionate hobby back in 2004, to today where the team medalled at the recent NZ Cider Awards, the company’s successes go from good to great!
Tammy Vitakangas and her team (including her Mum and Dad) put good old Kiwi ingenuity to work and managed to purchase second-hand brewing equipment in Wellington and decided to set up their brewery in Kawerau in the Eastern Bay of Plenty. They sold their first bottle of Mata beer in December 2005 and Mata beer was born.
If you are driving over the holiday period, it pays to ensure you are not caught out by drink driving laws.
In Aotearoa New Zealand the alcohol limit for drivers under the age of 20 is zero. For drivers aged 20 and over, the legal alcohol limit is 250 micrograms (“mcg”) of alcohol per litre of breath. If you elect to give a blood sample, the limit is 50 milligrams (“mg”) per 100 millilitres (“ml”) of blood.
As a Family Lawyer, I often see clients at their lowest points, particularly when they are feeling the most vulnerable, anxious and stressed. These negative feelings may be felt during a parenting dispute, relationship breakup, family violence, death of a loved one or when someone important to them has lost mental capacity. Even if you are not going through one of these struggles the events of the past year and a half as well as the lead up to the silly season may lead you to feel increasingly fatigued and worried about the future. For this reason, I have compiled a list of top tips I use and often tell my clients about to keep myself mentally well and prepared for my next challenge.
An extremely important document should anything happen to you! Here are a few of the common questions we get asked…
Who should have a Will?
Anyone over the age of 18 who has any form of asset or has a child, should have a Will
The Alan Duff Charitable Foundation, better known as Duffy Books in Homes is a literacy programme aimed at breaking the cycle of booklessness amongst children at low decile schools throughout New Zealand.
The programme was developed following a visit by Alan Duff to Camberley School in Hastings in 1992. He found that the majority of those children came from bookless homes and showed little, if any, interest in reading. From this grew the key concept of book ownership prompting an interest in reading and a love of books. This would also create the opportunity to share the books with other family members.
The Government's property Bright-line tax reforms were announced earlier this year. The most significant being the doubling of the Bright-line Test effective timeframe from five to ten years. This reform will impact residential properties acquired on or after 27 March 2021, where properties do not qualify for a “main home” exemption i.e., investment properties and holiday homes.
A shareholders’ agreement is often the most important document for a company – especially a start-up company. They set out the rights and obligations of shareholders, how the business is structured, controlled, and governed. And whilst entering into a new opportunity is exciting, and everyone is feeling optimistic about the future, sometimes things don’t go as planned. And this is why a well-written shareholders’ agreement can be so valuable, on the off-chance things do go awry.
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