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New Requirements for Purchase Price Allocation from 1 July 2021
If you are planning to buy or sell a business this year, you need to be aware of the new purchase price allocation rules which come into effect on 1 July 2021.
The Bright-Line Test and Main Home Exemption – What You Need To Know
On 23 March, the Government passed their amendments to the residential-property bright-line test under urgency, and without consultation via a Supplementary Order Paper (SOP).
Property Investors Hit Hard by Tax Reforms
The Government has announced huge tax reforms. These tax reforms are attempting to grapple with the housing crisis, and tip the balance of power in the market towards first home buyers and long-term investors.
Business Continuity Test Set to Change
The Minister of Revenue has recently indicated his intention to introduce legislation to relax New Zealand’s loss continuity rules. Currently, New Zealand’s loss continuity rules are among the strictest in the world.
Waitangi Day and Mondayisation
Those who work a Monday to Friday job will be looking forward to a long weekend. While Waitangi Day falls on a Saturday this year, the public holiday is taken on the following Monday.
Possible Increase to Sick Leave Entitlement
The Holidays (Increasing Sick Leave) Amendment Bill 2020 (Bill) was introduced on 1 December 2020. The Bill proposes to increase employee sick leave entitlements from five days to ten.