Business briefs
A recent decision in the Court of Appeal* has made a director liable for almost $500,000 of company debt due to the company’s failure to keep adequate accounting records.
Commercial
Potpourri of employment law changes ahead
Last year saw many changes in the employment law sphere, with the Labour-led government delivering on promises of reform in this area.
Agri-tourism and food
Agri-tourism and food are growing sectors in New Zealand. We have farm tourism where tourists are shown working farms with activities such as sheep dog and shearing exhibitions.
Four more changes to business law for 2018…
In these briefs, we’re looking at moves to stop multinationals from avoiding paying tax, website privacy and why you need to make sure you’re compliant, another hefty fine issued under the new health and safety laws, and tightening the screws on anti-competitive behaviour.
Improved working conditions for employees
The Labour led coalition government has make swift amendments to the Employment Relations Act 2000. These changes took effect on 1 February this year and will impact all businesses, so if you’re an employer, you need to take note.
Loan documents: do you read the fine print?
How many of us actually read the fine print when signing a document? The old adage suggests we should and with good reason. If you run a farming operation, it’s very likely that you’ll need to borrow funds from one of New Zealand’s main trading banks. It’s also vital that you read the fine print to avoid some unpleasant surprises. Here’s a summary in larger, easier to read print.
Shareholder Relationships: What happens if you need to break up?
Shareholders’ agreements are often compared to a marriage. In many ways this comparison is true, so what happens if you need to break up? In business, breakups happen for many reasons. Here are some pointers about how to avoid a costly mess.
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.
Buying Into an Existing Business
Buying an existing business is sometimes preferable to establishing one from scratch.
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Money withdrawn from the company by you as the owner or shareholder that’s to be used for anything other than for the business is called ‘drawings’.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.