Disclaimer: Nothing in this recording is meant as financial advice and you should always check with a professional before making any financial decision. Recorded on Feb 15th 2021.
Hear the latest in the world of finance from the best in the biz, Dave Windler from Mortgage Supply Co. www.assetlab.co.nz https://mortgagesupply.co.nz/
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The new Trust Act modernises trust law and makes significant changes to the way trusts are currently administered in New Zealand. The Act aims to update trust law and make the law accessible to all (not just lawyers). The Act will come into force on 30 January 2021, and will then apply to all existing written trusts, as well as any new written trusts established. It could also apply to statutory trusts or other types of non-express trusts (such as constructive or equitable trusts) if the Court decides that the Act should apply.
The quality of governance and administration of trusts is often well below the standards of other countries. This new law will be targeted towards those that are poorly governed, but it will result in a higher level of scrutiny on all trusts.
From 2021 your duties will be broken down into two types, Mandatory and Default.
Mandatory trustee duties...
by Miriam Bell
NZPIF president Andrew King
That’s because the Social Services and Community Select Committee has elected to progress the proposal to remove a landlord’s right to use “no cause” 90-day terminations to end a periodic tenancy agreement.
It has also given the green light to the proposal which requires that fixed-term tenancy agreements become periodic tenancy agreements upon expiry unless both parties agree otherwise.
These particular reforms have been fiercely opposed by property professionals across the board since the Government announced the reforms contained in its Residential Tenancies Amendment Bill.
Property professionals say the reforms skew the balance between investment property owners and...
OPINION: I’ve been an investor for more than 30 years now and house prices are something I’ve never been interested in, or paid much attention to.
I’ve never thought “should I buy now?” because I just read a headline to say that prices in my area are soaring.
So many people ask me: “What do you think the market is going to do?”
My answer for the last 30 years has been fairly consistent: I don’t know. I don’t care. Hopefully prices will drop. Why does it concern you? If you did know what was going to happen, what would you do and why?
The idea that you can predict what house prices will do at any point in the “cycle” is one of the myths that catches property investors out.
Here are a few others.
Myth Number One.
Generally, investors think that the big cities such as Auckland, Wellington, Hamilton and Christchurch will be better to invest in because they falsely believe that...