Part of the Auckland Unitary plan addresses Auckland’s housing affordability and supply. You’d need to have been living under a rock or in the far reaches of Siberia not to have heard that Auckland has a desperate shortage of affordable housing, as well as a rapidly growing population. To address this issue, the Council plans [...]
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Memphis property returns are great for investors
“American property prices increase.” Don’t take my word for it read through the articles below and find out for yourself what is happening in Memphis and other US cities, where house prices are rising as evidenced by the Case-Shiller property value index report. Article 1. Housing Values surge in US cities Article 2. Memphis property [...]
Buying American Property
Do you want to buy property in American then you need to listen for just a couple of minutes to Matthew Gilligan discuss the in’s and out’s of how and why you should invest in America. You can find out more about buying and investing at Matthew Gilligan’s American Property workshop
Auckland Unitary Plan & What It Really Means
The Auckland Council is in the process of drafting Auckland’s Unitary Plan. So what is the Unitary Plan and why should we all be interested? The Unitary Plan is one of the key tools that will be used to formulate the Auckland Plan – the vision for the city and the parameters surrounding its growth. [...]
New Vehicle Mileage Rates
Inland Revenue has advised the new mileage rate for motor vehicles is 77 cents per kilometre. This rate applies to self employed taxpayers with up to a maximum of 5,000 kilometres of work-related travel each year. This applies to all motor vehicles (except motor cycles) irrespective of their engine sizes or whether powered by petrol [...]
Tighter Company Regulations
There is currently legislation before Parliament seeking to tighten up rules around incorporation of companies on the New Zealand Companies Office Register. In particular, there is concern about companies being incorporated with offshore shareholders and directors, and then being used in criminal activities. A large part of the reason for this concern is that there [...]
Latest Tax Update
Latest Tax Update Late last year the IRD issued a raft of statements including draft new legislation and new interpretations of existing rules. A few important ones that clients should note as potentially relevant are: The IRD have issued a new interpretation statement (not in draft form) on the taxation of accommodation benefits. Up [...]
What’s the Single Largest Cause of Bankruptcy in New Zealand?
What’s the single largest cause of bankruptcy in New Zealand? Incompetence? Dodgy dealings? Laziness? No – it’s the IRD. If someone was running around hitting people over the head with sledgehammers just for the sake of it, you’d be right to be concerned. And concerned we are, because that’s exactly what the IRD have been [...]
Proposed New IRD Position on Residency
The IRD has recently released a draft interpretation statement on tax residency. and Although only draft at this stage, it signals a significant change in the way the IRD applies tax residency rules and if finalised without alteration may impact upon clients whom are outside of New Zealand and currently regard themselves as non-tax resident. [...]
Rent Versus Own & why the Economist got it Wrong
Rent Versus Own & why the Economist got it Wrong We are scratching our heads at GRA, wondering if the world has gone completely mad. To say we are astonished at the opinions of one particular economist, Shamubeel Eaqub, whose comments were recently published in the New Zealand Herald, is putting it mildly. He [...]
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