This year there have been a number of law changes that may affect your business or investment property.
- Sick leave – The number of days an employee is entitled to will increase from five to ten days per year from 24 July 2021.
- Minimum Wage Increase – The adult minimum wage rate increased on April 1 2021. Rates for starting-out workers or trainees, have also changed.
- Tenancy Law Changes – These include changes to the rules around termination, rent bidding and requests by tenants to make minor changes to the property.
- Healthy Homes Standards – From 1 July 2021 landlords are required to meet the five healthy homes standards for boarding houses, and within 90 days of a new tenancy in a private tenancy.
- Investment Property Tax Changes – Including the extension of the bright-line test from five to ten years (excluding new builds), and changes to the treatment of times when the property is not the owner’s main home.
- Changes to Consumer Credit Laws – From 1 October 2021, all directors and senior managers of lenders providing consumer credit contracts or acting as mobile traders are to be certified ‘fit and proper’ (unless exempt).
- Vaping Law Changes – New regulations that control the sale, marketing and display of vaping products, plus other regulation.
For more information on the new laws, The Ministry of Buiness, Innovation adn Employment have a summary including links for more information here.
If you are unsure how these laws will impact your business or investment property, we can help. Call us today.