In this article Carl, a Law Clerk in our Commercial Team, addresses the changes brought by the Commerce (Cartels and Other Matters) Amendment Act 2017 to New Zealand’s anti-cartel framework and the effect these changes might have on certain kinds of business arrangements.
The past year has seen a number of Court decisions in the charities area which may impact on your charity. As has long been established, only charities that advance exclusively charitable purposes can remain registered charities under the Charities Act 2005. For a purpose to be charitable it must advance the public benefit in a way that is analogous to cases that have previously been held to be charitable, thus it is important to be aware of recent decisions and consider how they may impact your charity or its purposes.
The Taxation Bill proposes an amendment that extends deregistration tax rules to include non-registered charities that cease being charitable at law. The Bill also clarifies that assets will only be excluded from the calculation of deregistration tax if those assets have been transferred or disposed of. Further, payment to volunteers will only be deemed taxable income if it is in honorarium, and not a reimbursement, and there is the option to choose a tax rate on honoraria payments from 10%.
The Proposed Plan Change 1 for Waikato Regional Council has been dubbed “Healthy Rivers” and is an 80 year plan to clean up the Waikato and Waipa rivers along their entire lengths. The plan change will impact farms in the Waikato Region, of all types, as well as commercial vegetable growers and so it is important that farmers and professionals alike are up to date on what the plan means.