A reminder: buyers beware of GST zero-rating
The Taxation (GST and Remedial Matters) Act 2010 (TGRM) was created to streamline administrative costs to the IRD and to prevent ‘phoenix’ GST schemes where land was transferred between associated...
Joint Tenancy and Tenancy in Common
If you are thinking you would like to own property or assets with your spouse, partner or friend (or several others) you will need to decide on the form of...
Rest home subsidies and the abolition of gift duty
Recently, much has been made of the government’s intention to do away with gift duty from 1 October.
New Unit Titles Legislation now in Force
On 20 June 2011 the Unit Titles Act 2010 and the Unit Titles Regulations 2011 came into effect.
Buying and selling a unit title property: management agreements
Since the Unit Titles Act 2010 came into force on 20 June 2011, we expect to see a greater level of transparency and disclosure of relevant information in respect of...
GST on land transactions
On 1 April 2011, the GST position for some land transactions took effect. Where property including land is sold between two GST-registered parties, the transaction will be ‘zero-rated’ for GST purposes.
Christchurch earthquake: buying property
Property buyers and sellers, together with their lawyers, are generally adapting well to the difficult circumstances surrounding the recent Canterbury earthquakes.
The 'Solicitor's Approval' Clause
Have you ever signed an Agreement for Sale & Purchase without first giving it to your lawyer to consider? What would happen if something went wrong with the contract? You...
Encumbrances: What does the future hold?
The Law Commission has recently made recommendations for a proposed new Land Transfer Act to replace the current Land Transfer Act 1952.
Abolition of gift duty: Implication of family trusts
The announcement in October that the government intends to abolish gift duty will affect all people with current gifting programmes in place after the transfer of ownership of property into...