GST Transactions

on Thursday, 15 September 2016. - The new GST Rules information has been supplied by Thompson + Partners Ltd - Chartered Accountants, Palmerston North

New GST rules were introduced 20 December 2010 and apply to land sales on or after 1st April 2011. These changed were enacted under the Taxation (GST and Remedial Matters) Act 2010.  The key feature of the changes is that GST registered vendors of "land" are required to charge GST at the rate of 0% on any supply of land to a GST registered purchaser provided certain conditions are met.

Lease Variations

on Wednesday, 08 February 2017. - Leases are contracts

Leases are contracts. They give a license to operate on a particular site, for a specific period of time, and prescribe a range of terms and conditions. For example businesses that operate on a site by way of a lease.

Any contract can be varied and amended by mutual agreement. This is often done when adding extra years to the lease.

Please, if you are seeking variations get them written down! At the very least have an evidential trail. A lot of things can be agreed to and carried out, but it does become an issue if it is not written down. It is a situation that we said and they said and then, if proof isn't available, the written document will over-ride any other considerations.