Last year, in 2021, several important legislative changes were made which new laws may be impacting your business or you personally.
ASCO Legal’s expertise includes a range of practice areas and we are here to help you navigate the effects caused by the changes. We have provided a short summary of the impact of some of these key changes and invite you to contact us for further assistance.
Changes in the following affected areas: -
KEY CHANGES MADE AND THEIR IMPACT
With the extension of the bright-line test to 10 years, there is no doubt this will give property owners and future property owners a lot to consider before buying or selling property. Contact us for advice on how these changes may impact you.
The intention of the changes is to make trusts more transparent to beneficiaries. The effect of the changes are likely to result in more burdensome administrative compliance and costs. Whether you have an existing trust or contemplating creating a new trust, the above changes need to be considered and the appropriate steps taken. Contact us for guidance on how best to establish and manage your trust, or your compliance as a trustee.
Consumer laws – Credit Contracts and Consumer Finance Act 2003 (“CCCF Act”)
Several changes were made to the CCCF Act with the intention of providing better protection from high-cost loans and unaffordable debt. However, the effect has resulted in several mortgage applications being declined due to stringent lending requirements focusing on amongst other aspects consumers’ spending habits and affordability.
If you are purchasing or selling property, the changes intended to help protect consumers may well be a stumbling block to your sale or purchase. Its vitally important to have someone who can advise and guide you on the process as well as review the sale and purchase agreement before selling or purchasing. ASCO Legal may assist you whether you are selling or buying a property or a business.
The End of Life Choice Act 2019 is by far one of the most controversial laws to come into force in our history. How the issues of its implementation will be managed and its impact will be seen in time. It is a reminder to all of us that our time is not guaranteed and one should take appropriate estate planning measures while capable of doing so. We may help you with further information on assisted dying and estate planning, include Advance Directives, Enduring Powers of Attorney documents, and family trusts.
Being an employer and running a business includes a number of compliance requirements. If you are an employer looking to revise your business governing documents, we at ASCO Legal can help ensure you are compliant and up to date. We can also advise on HR policies and protocols to have in place depending on the nature and size of your business that, while not mandated, may be useful in mitigating risk such as privacy, IT, leave (including sick leave and COVID related aspects) and sexual harassment and sexual harassment policies.
All of the ASCO Legal team keep up-to-date with their respective practice areas. Click on each specific article to learn more about the team members involved.
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The information posted on this website is prepared for a general audience, without investigation into the facts of any particular case. This information is no substitute for legal advice and does not create a lawyer-client relationship; you are advised to consult with a lawyer on any legal issue.