Commercial

Gifford-Devine

The good, the bad and the ugly changes to business law

There are three changes to business law on the horizon. If you’re a small to medium business owner, we recommend you read this article so you’re armed with the right knowledge and not looking down the barrel of a legal shoot-out.

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Buying Into an Existing Business

Buying an existing business is sometimes preferable to establishing one from scratch.

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Director’s Drawings

Money withdrawn from the company by you as the owner or shareholder that’s to be used for anything other than for the business is called ‘drawings’. These drawings can generally be categorised as salary or dividend payments or advances under your shareholder current account.

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A reminder: buyers beware of GST zero-rating

The TGRM effectively creates a GST-zero position as between GST registered parties in certain land transactions.

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Limitation Act 2010

Limitation laws prevent certain legal claims being brought against a person or company after a defined period of time. They provide a defence against old claims and give certainty in relation to legal liability for past events.