How the clean slate legislation works
Employing staff is never a simple process. Finding people with the right skills and personality to fit into your team can be challenging. Today’s employers go through a rigorous process when recruiting; most believe it’s better to put time into getting the right person than to have to deal with the consequences if things don’t work out.
One aspect of all staff recruitment is background checks on applicants. This is more important in some roles than others.
Continue reading “Employing people with a past”
Have an expertly-drafted agreement
Restraint of trade clauses are common in the sale and purchase of a business and in some employment agreements. In a business context, they offer protection to a buyer who has acquired a business and prevent the seller from directly competing against the buyer. A restraint provision in an employment context is designed to protect the employer’s business interests when key employees leave. There’s a general perception that these clauses are difficult to enforce, so why bother?
Non-competition restraint – sale of a business
The purpose of a non-competition restraint in regard to the sale of a business is to ensure that the purchaser is able to retain the benefits of the business they have purchased including existing and potential customers. It prevents the seller from establishing, working for or being involved in a similar business. Non-competition restraints are routinely used in the sale and purchase of businesses.
Continue reading “Are restraint of trade clauses worth the bother?”
Cattle rustling now a crime
As noted in the Autumn edition of Rural eSpeaking, the newly minted Crimes Amendment Act has introduced two new offences aimed at addressing cattle rustling. The legislation came into force on 12 March 2019.
Federated Farmers has estimated that livestock thefts cost the farming community more than $120 million every year. Cattle rustling also causes biosecurity concerns associated with the movement of stock as well as the safety of farmers as firearms and other weapons are often involved with this kind of offending.
Continue reading “Over the fence”
Complex task ahead
In contrast to the review of the NAIT system that we discussed in our previous post, it will be challenging for the government to get a consensus on the recently announced review of the resource management system. The four leading political parties have differing views on how to manage resource management issues. In particular, the Coalition government has three partners – all of which have somewhat contrasting policy positions.
The review will be undertaken by a resource management review panel made up of people with skills in relevant areas. The panel is chaired by Tony Randerson QC, a retired Judge of the Court of Appeal. Additional members will be appointed in the coming months.
Continue reading “Resource management system review”
Significant changes post-M.bovis
The NAIT (National Animal Identification and Tracing) system was first introduced in 2012 and came into effect progressively until it was fully implemented on 29 February 2016.
Any completely new system is likely to need a review after being in operation for a period of time. Within 18 months of NAIT’s final implementation date, the outbreak of Mycoplasma bovis in this country gave the regime a real test and, not surprisingly, the system was found wanting in some respects.
Continue reading “NAIT review”
Building report conditions
If you have read an agreement for sale and purchase, you are likely to have seen the term ‘building report condition’. But do you know what a building report condition actually allows you to do, and what it doesn’t?
A building report condition gives you, as the buyer, the opportunity (10 working days is the standard, but this can be lengthened or reduced) to have a suitably qualified building inspector go through your soon-to-be-settled property and report on various elements of the building including the integrity of the construction materials used and its weathertightness.
Continue reading “Property briefs”
The ‘KFC test’ and tenant privacy
Following publicity in 2018 that some property managers were using the ‘KFC test’ to vet prospective tenants, landlords’ protection of their tenants’ privacy has come under scrutiny by the Privacy Commissioner. Any unlawful intrusion into your tenants’ private lives can be a costly mistake. If you are a landlord, it is timely to ask yourself, “How can I best protect my property without risking a privacy breach?”
Continue reading “The secret lives of tenants”
Steps to take for a successful project
Subdivisions are more common than you think. A subdivision can range from the carving up of hundreds of acres of rural land for housing, developing land in a prime commercial area, selling half your quarter-acre section or simply wanting to extend your boundary a few metres. Whatever the scale of your subdivision, there is a common thread of stages to be ticked off – we explain below.
Getting your land ready to subdivide
The first thing is to line up your professionals – discuss the project with us, arrange finance with your bank, consult your accountant and speak with a surveyor. If you are undertaking a large commercial development, you may want to line up buyers early on. A real estate agent can help with this so that you avoid cashflow issues half way through.
Continue reading “Subdivisions”
Claiming legitimate business expenses
With the recent media coverage about the claiming of business expenses, we thought it timely to remind you to always keep in mind what expenses are tax-deductible and what are not.
If you’re self-employed, there is very useful information here at Business NZ: https://bit.ly/31WdFgS
For those of you who work in a corporate environment, your organisation will no doubt have an expenses policy to ensure all claims are legitimate.
Continue reading “Postscript”
Risk of hefty penalties if you don’t
There are plenty of war stories about recordkeeping blunders. Think of offices crammed with paper, ‘lost’ documents, fireplace filing systems and online voids.
Section 194(1) of the Companies Act 1993 requires boards to keep correct accounting records. Records are supposed to ‘speak for themselves’ and allow the company’s financial position to be determined at any time with reasonable accuracy. Failure to keep proper records can badly hurt your business.
Continue reading “The importance of good recordkeeping”