Articles Related to Corporate

 

Commercial leases and rent relief during the COVID-19 pandemic
The effect of COVID-19 on New Zealand businesses has been profound. In the wake of the initial Alert Level 4 lockdown in March 2020, followed by several periods of Alert Level changes since then, commercial landlords and tenants were left out of pocket, scrambling to negotiate to reduce or defer rent and outgoings and in some cases, resorting to cancellation.
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BEWARE LENDERS: New due diligence duty & fit and proper person certification for directors and senior managers

From 1 October 2021, directors and senior managers of lenders (i.e. a person or business providing credit under a consumer credit contract, including some mobile traders), must comply with new due diligence duties and obligations under the Credit Contracts and Consumer Finance Act 2003 (the “CCCF Act”).

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Buyers and sellers beware! New Tax Rules 2021: What you need to consider when buying or selling a business
If you are buying or selling a business this year, think carefully about how the purchase price should be allocated to the assets being sold/purchased. 
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Further COVID-19 relief available for SMEs
Relief is now available for small and medium sized enterprises (“SMEs”) whose revenue has been affected by the recent COVID-19 Alert Level hikes (from Alert Level 1 to Level 2 for most of the country) during February 2021, with applications for grants and subsidies having recently opened on the Inland Revenue and Work and Income websites.
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Protecting your Personal Information in the Digital Age

From 1 December 2020, the Privacy Act 2020 (“the Act”) will replace the Privacy Act 1993 (“the 1993 Act”). The Act introduces sweeping reform to promote New Zealander’s confidence that their personal information is secure and treated properly by public and private sector agencies.

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COVID-19 – New Relief For Small Businesses – Government Small Business Cashflow Scheme

On 1 May 2020, the Government announced a new initiative to help small businesses grapple with the devastation inflicted by COVID-19 and the Government’s response to it: the Small Business Cashflow Scheme (SBCS).

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Government Support for Business
The Government has this morning introduced a new suite of measures to provide relief for businesses during the COVID-19 pandemic. Finance Minister Grant Robertson stated that the measures apply and impact on small and medium-sized enterprises (“SMEs”) in particular, and largely relate to tax payments and deadlines, commercial leasing and mortgages, and business advice.
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Do you offer financial advice? You may want to read ours...
The Government has introduced a new financial advice regime that will likely impact any business or individual involved in the delivery of financial advice, services or products in New Zealand.
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