From 1 October 2013 new regional house price caps, income caps and an additional deposit requirement came into effect in relation to the KiwiSaver deposit subsidy. Continue reading
How do they work?
From 1 April 2011 Loss Attributing Qualifying Companies (LAQCs) ceased to exist. The replacement loss attributing entity is a Look Through Company (LTC). Here we give some guidance as to how they work and some of the risks. Continue reading
When you discover you are going to inherit grandpa’s spectacular beachfront property on which your parents have built a beautiful holiday house you need to think carefully about how you can protect this asset for future generations. Continue reading
When the changes to marriage law came into effect on 19 August 2013, we were asked an interesting question, “If a couple who were in a civil union decide to ‘upgrade’ to a marriage, will that mean that their Wills are cancelled?” It seems that the risk of accidentally revoking your Will by getting married is no longer reserved only for heterosexual couples. Same-sex couples now have access to the same unintended consequences of marriage. Continue reading
There are a number of common assumptions made about access to a person’s Will and what happens after the Will-maker has died.
‘Reading of the Will’ Continue reading
There have been amendments to these regulations (Regulations (No 2) 2013 (SR 2013/189), which came into force on 1 July 2013; they amend Schedule 27 of the Social Security Act 1964 (the Act). Schedule 27 relates to means assessments for long-term residential care.
The relevant asset thresholds set out in Schedule 27 are increased by 0.86%, as required by s155(2) of the Act. This is the change of the movement in the New Zealand Consumers Price Index (All Groups) for the year ended 31 March 2013. The new asset thresholds, rounded up to the nearest whole dollar (as required by s155(3) of the Act), are:
- Threshold A: $215,132 (applies to residents with no spouse or partner, or whose spouse or partner also requires care, or whose spouse or partner does not require care but has elected to have Threshold A apply), and
- Threshold B: $117,811 (applies to residents with a spouse or partner who does not require care and who has not elected to have Threshold A apply).
If you need more guidance on means testing for long-term residential care, please don’t hesitate to contact us.
The Employment Relations Amendment Bill passed its first reading on 5 June 2013 and has been referred to the select committee; the committee will report back by 5 December 2013.
The Bill amends the Employment Relations Act 2000 to make changes in the following areas:
- Collective bargaining, including removing the requirement to conclude a collective agreement. It introduces an ability for employers to reduce employees’ pay in response to partial strikes
- Flexible working arrangements, to extend the right to make a request to all employees
- Part 6A of the Act, in particular, introduces an exemption from certain requirements for small to medium enterprises
- Good faith, to clarify the requirements for disclosure of information
- Rest break and meal break provisions, to allow for flexibility, including compensatory measures where there is a failure to provide a break, and
- The Employment Relations Authority to set time frames for release of determinations.
We’ll report on the progress of this legislation through the House.
A number of recent cases before the Employment Court have indicated an employer now potentially faces greater hurdles when justifying a dismissal for redundancy. Earlier this year the Employment Court released a decision in the Totara Hills Farm case[1] where the court found that if a redundancy is challenged by the employee, the employer cannot simply say there was a genuine business reason for the redundancy without the court examining the merits of the claim and the employer’s assertion that it had genuine business reasons. The court also emphasised that an employer’s obligations of good faith should encompass redeployment. It also found that a fair and reasonable employer would have done more than offer the employee the opportunity to apply for another position. Employers need to be careful about the business case they advance to justify a redundancy. The Employment Court will carefully examine the evidence and, if not in agreement with the employer, may decide the redundancy was not justified.
[1] Rittson-Thomas t/a Totara Hills Farm v Hamish Davidson NZEMPC WN (2013) NZ Empc 39 (20 March 2013)
The Independent Taskforce on Workplace Heath and Safety (the Taskforce) delivered its report to the Minister of Labour, Hon Simon Bridges in April 2013. The Taskforce has said there are “significant weaknesses” in New Zealand’s health and safety system coupled with “the absence … of elements to drive major improvements or to raise expectations.[1]” With the spotlight firmly on health and safety, especially following the Pike River disaster and the Christchurch earthquakes (including the collapse of the CTV Building), it’s likely that the Taskforce’s recommendations will be adopted and implemented within the next 6–12 months. Continue reading
If you are considering entering into an Agreement for Sale and Purchase, whether it be for a rural or residential property, purchasers should be mindful that obtaining insurance for the property may not be as easy as it once has been. Following the recent earthquakes in Wellington and Malborough some insurers are restricting the issuing of new policies. Before any Agreement for Sale and Purchase is confirmed unconditional, purchasers need to first ensure they will have adequate (and acceptable to any lender) insurance cover in place for the property.