Browsing: The Law

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Compliance & Legal

Developers of a New York skyscraper have been ordered to remove as many as 20 floors from the top of its recently completed project Ted Tabet – The Urban Developer The 200 Amsterdam Avenue development, being delivered by SJP Properties and Mitsui Fudosan America, has been found to have exceeded zoning limits after developers “gerrymandered” a 39-sided zoning lot in order to add height and bulk to the project. Continue →

Takapuna’s transformation has taken a big step, following a recent decision by Auckland Council to approve the layout of a large public town square in place of the Anzac Street carpark, says Takapuna Beach Business Association Chief Executive Terence Harpur Repurposing the Anzac Street asphalt carpark area has not been without controversary. Continue →
Property Trends

It’s clear from Statistics NZ figures that last year’s Foreign Buyer Ban in October has cut into property demand from this source, and is likely to have contributed to the softening in values in areas such as Auckland and Queenstown, CoreLogic Senior Property Economist Kelvin Davidson comments In the first three months of the year there were 204 property purchases by people without citizenship or a residency visa, 81% lower than the same quarter a year ago (1,083). Continue →

Although it’s not law yet, the tax ring-fence for rental property losses is likely to be approved and will apply to the current tax year, but CoreLogic Senior Property Economist Kelvin Davidson doubts it will dramatically change the rental property landscape The proposed tax ring-fence for rental property losses isn’t in force yet, but it is currently going through the ‘bill to law’ process – which starts with a select committee and then ends up before Parliament for the final stage. Continue →