The Law Lowdown – Winter 2023

Catch up on all the news and information in our first copy of The Law Lowdown

Inside this issue:

  • Incorporated Societies Act changes in the air – do you need to do anything?
  • Know your obligations before signing up to a conditional house purchase
  • Change to Trustee Tax rate – is a Trust still useful?
  • Fencing – Get it right

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Change to Trustee Tax rate – is a Trust still useful?

The Government announced a proposed increase of the trustee tax rate (from 33% to 39%) in Budget 2023. This change, due to take effect from 1 April 2024, would set the rate at which trustee income is taxed at the same as the top individual tax rate. The intention here is to prevent taxpayers from

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Know your obligations before signing up to a conditional house purchase

An example of the critical importance of purchasers understanding their obligations under conditional sale and purchase agreements is the Strack v Grey case. (Strack v Grey [2019] NZCA 432) What Happened Essentially Grey, an Otago businessman who owned a property in Mosgiel, wanted to buy the Strack’s property in Dunedin. Grey wanted to put in

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