Dear all, Introduction If you currently have either an Interim Parenting Order, a Final Parenting Order or an agreed Parenting Arrangement (either agreed privately or reached as a result of FDR mediation), you may be concerned whether these orders/arrangements can continue in light of Alert Level 4 for COVID-19. We have set out below the position and hope that this will provide assistance to you during this difficult time.
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It has long been the case that you must pay income tax if you originally purchased a property with the intention of on-sale. The problem for the IRD was that it is very difficult for the IRD to prove that this was a taxpayer’s intention for selling.
From July, you may now be asked for information by your lawyer that previously you’ve only had to provide to banks and financial service providers. This could include verification of identity information and information about the source of funds. This may be frustrating for you (and us too), but bear with us because this is a legal requirement, not a firm-based decision. _______________________________
Check to see if land is potentially contaminated ... Since Regional Councils started to identify land that could be contaminated by chemicals or hazardous substances (called “Hazardous Land”) we have had instances where clients subdividing in areas of Tauranga that used to be orchards have had to undertake expensive soil testing and had specific conditions imposed in subdivision consents. Hazardous land uses include:
When is possession 9/10ths of the law? Find out how you could be in danger of losing assets – and not even know it. Under the PPSA (Personal Properties Securities Act), you need to hold a "perfected security interest" on leased equipment before your interest in the asset is secure. Example Let’s say you want to lease a trailer out to your customer, James, on a long-term lease.