New Zealand Property Matters

Calculate GST at 15%

iancampbell — Wed, 22 Sep 2010 11:39:44 +0000

With GST increasing to 15% from 1 October 2010, here’s a tip for calculating the GST :

GST inclusive amount multiply by 3 then divide by 23

GST exclusive amount multiply by 15%(0.15)

Supporting our Canterbury Westland Branch

iancampbell — Wed, 22 Sep 2010 10:28:01 +0000

The Canterbury/Westland Branch has taken a positive lead in supporting local property professionals effected by the Canterbury earthquake and ongoing aftershocks. For all Canterbury members who have been impacted or personally displaced by this natural disaster, our thoughts and support are with you. The Property Institute is here to help and where possible assist any of its members who require support. Having visited Christchurch and the Banks Peninsular over the last week and witnessed the extent and randomness of the damage throughout the area, any recovery will still be a substantial task. With a long but not impassable road in front and with some big recovery decisions still to be made, I believe that all of our members across the country will be fully supporting and applauding the leadership shown by our Canterbury/Westland branch on the ground.

Members Update August 2010

iancampbell — Fri, 27 Aug 2010 04:07:26 +0000

Now that we are well into August, I thought it would be beneficial to shortly issue a Members Update that will cover some of the institute’s activities up to August 2010, highlighting progress made in the areas of membership, financials and events held to date. I think our members will find the update timely and of general interest.

A Vision for Social Housing in New Zealand

iancampbell — Fri, 27 Aug 2010 04:05:25 +0000

I recently met with Dr Alan Jackson who is the Chair of the Housing Shareholders Advisory Group which is a group established by the Ministers of Finance and Housing earlier this year to look at the delivery of state housing services and find more innovative and productive ways to use current social housing assets . A copy of their report titled “Home and Housed – a Vision for Social Housing in New Zealand’ was included within the institutes weekly newsletter on 23 August 2010. I believe this to be a substantial document with some very forward thinking recommendations. The report strongly supports amongst 19 recommendations, third-party supplier participation and for HNZC to focus on the “high needs” sector. Contained are interesting facts and comparisons well worth reading.

Customary Title

iancampbell — Wed, 25 Aug 2010 10:45:41 +0000

I had a reasonably good discussion with the Attorney General Hon Chris Finlayson over the weekend on customary title and what this meant. Once the Foreshore and Seabed Act 2004 is repealed and replaced with new legislation (our institute will be invited to comment to the select committee on the new bill) the concept of customary title and what his means needs to be fully comprehended. Customary title and rights will be a limited form of property right which does not mean freehold title and cannot be sold. The actual definition is still being refined and we are not the first country in the world to grapple with the concept of customary title or the application of rights. However, it is clear that the current proposal is for a non ownership model and that the foreshore to be declared as public domain with Maori able to apply for customary title after meeting certain legal tests in the High Court. These tests will include proving exclusive use and occupation of an area since February 1840 in order to qualify for title. Customary title will provide a limited form of ownership to areas covered by the ebb and flow off the tide (mean high water line) going out some 12 nautical miles. When this is all finally passed into law later this year, I believe the High Court will be busy for years addressing customary title claims. However once customary title is finally granted, the area will be gazetted then recorded by way of public register. I would expect to see memorials evidencing customary title on CT’s as well.

Ian Campbell

Institute of Forestry (NZIF)

iancampbell — Wed, 25 Aug 2010 09:34:36 +0000

A productive meeting held in Wellington with Dr Andrew McEwen President of the New Zealand Institute of Forestry (NZIF) and John Schrider a Registered Forestry Consultant, representing around 800+ members. NZIF is very similar to our Property Institute in terms of professional membership, conduct, code of ethics, registration and learning. NZIF was founded back in 1927 and its members are involved in all aspects of forestry. The relationship here is that our own valuer members are sometimes instructed to determine land value whilst their members value the forestry asset, a marriage that delivers the estate or block value. Having purchased a forestry block in Kawakawa Bay on behalf of Manukau City Council a few years ago reminded me of the very complex DCF and tree modelling used by the Forestry professional I employed with the land value provided by a registered valuer, then applied to determine overall value. You really need to understand forestry and the variables which influence value. Now with David Clarks assistance we alerted Andrew and John to the impact that the REAA may have on their members who could be involved in transacting forests or at least, involved in sale and purchase negotiations. They fully appreciated our discussion here. Similarly the impact that the Financial Advisors Act will have on forest syndicators has only just been considered. NZIF’s emerging issue is valuing carbon credits, which I believe some of our own members will be interested in learning more on. In future I am looking to encourage more dialog with the NZIF as they are very similar in many ways to our own institute.

Ian Campbell

Primary Industry Management – NZIPIM

iancampbell — Wed, 25 Aug 2010 08:48:21 +0000

I recently met Tim Wood who is the new President for NZIPIM (New Zealand Institute of Primary Industry Management Inc)who works at Federate Farmers in Featherston Street, Wellington. The NZIPIM was founded in 1969 with most of its 1,100 + members are practising farm management consultants, obviously relevant to Property Institute members working within the rural sector. After comparing notes about the same MBA course we both completed in the late 1990s, both Tim & I agree that there were a number of issues relevant to both institutes like for example, the impact of the Financial Advisers Act on our members; licensing under the REAA; RMA legislation; pastoral land issues driven by the High Country Accord; liaising with Government Departments and Ministers and other issues that impact the broad spectrum of land related professionals. What we will do is continue to encourage both NZIPIM and PINZ executives to maintain their dialog as well as in future reserving time, maybe annually, to identify emerging issues and prepare for any joint actions relevant to both organisations. Positive meeting.

Ian Campbell