Home and Income Can you borrow against the rental only? If you borrow funds to purchase a rental property, the interest on those funds will be tax deductible as the funds have been used to purchase an income earning asset. [...]
In the past, there have been some taxpayers that would sell a property between associated companies and avoid paying the GST. The way this worked was the purchaser company would claim the GST but the vendor company would go into [...]
Not just any NZ company can be a look-through company (LTC). And it can be rather detrimental to your tax situation if your company no longer meets the requirements as losses can be trapped within the company and a liquidation [...]
Repairs vs Assets The costs of any repairs carried out on a property are deductible unless is it ‘of a capital nature’. Costs of a capital nature generally refer to improvements and are not deductible. Instead, improvement costs are added [...]
Auckland Accountants, Thorne Accounting Offers Recommendations On Chattels Valuations • We are Auckland Accountants that recommend a chattels valuation for every residential rental property • In November 2011, the IRD released an updated list of residential rental property chattels that [...]
Investing In N.Z Property As Non Residents Summary: • The Thin Cap rules apply to non-resident individuals, trusts and companies with non-resident shareholders • The Thin Cap rules limit the deductible interest that may be claimed if the debt [...]
What you need to know if you are considering moving to Australia It’s becoming more and more common for New Zealander’s to move to Australia for better job opportunities among other things. While I’m sure you have identified a [...]
New Zealand Company Tax Rate – Is It Really Attractive? From 1 April 2011, the company tax rate in NZ has been 28%. At the same time, the personal tax rate for income from $48,000 has been 30% and [...]
Christmas is always an interesting time of the year for property investment, while most of the country winds down some savvy investors are gearing up for prime bargain hunting. Personally, I’ve always enjoyed buying property over the holiday season; fewer [...]
New Zealand Holiday Homes When the National Party released the budget in May 2012, they signalled changes to the way holiday homes were to be treated for income tax purposes. On 13 September 2012, the government released the tax [...]
Summary (1) For commercial buildings, assets listed under the “Building Fit-out” depreciation category may still be separately depreciated (2) Separating the fit-out cannot be done retrospectively (3) A fit-out pool of 15% of the buildings tax value can be created [...]
Now that loss attributing qualifying companies (LAQC) will no longer exist after 31 March 2011, I have revisited various property ownership options to determine their advantages and disadvantages for property investors going forward so that you are armed with the [...]
In the May 2010 budget, the government announced it was going to make changes to LAQC’s. On the 15th of October, the government finally released the draft legislation for those changes. This article outlines those changes. (1) There is a [...]
