Now that the dust has settled on what was one of the most anticipated budget announcements in recent memory, now is time to reflect on the impact of the announced and proposed changes on property investors. In doing so I am going to focus on the specific impact of the tax changes and leave aside [...]
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Going Down – IRD reduces rates!
At last some good news out of Inland Revenue. Fringe Benefit Tax (FBT) The FBT rate for low-interest loans will fall from 8.05% to 6.41% from 1 July 2009. This has come about due to the continuing effort to try and align the rate with the variable first mortgage housing rate. Bluntly it was not fair [...]
Gift Duty To Be Abolished
GIFT DUTY TO BE ABOLISHED On Monday Revenue Minister Peter Dunn confirmed that the government intends to abolish gift duty. Earlier this year the Minister had signalled that a review was being undertaken as to whether or not the gift duty regime should be repealed or amended. Subsequently that review has occurred with the Inland [...]
Get the low down on your Competitors – Benchmark
As in sport, we improve our performance by competing against others. If you run by yourself you will never know if you will win a race. The same applies to business. For example, suppose you operate a Paint and Panel shop. You might think your business is doing well by achieving a gross profit percentage [...]
GOODBYE LAQC, HELLO LTC
Since announcing in May that the LAQC regime was going to be the subject of an overhaul the property investment community has been anxiously awaiting the Government’s follow-up to the Issues Paper released at the time. On Friday 15 October 2010 draft legislation was released. As at the time of writing all practitioners, including myself, [...]
Attention Anyone With Property in Christchurch
Attention Anyone With Property In Christchurch: With the recent earthquake in Christchurch a lot of our clients have had their properties affected and it is still is a big issue for Christchurch property owners. We want to make sure if you live in Christchurch or have property in the area please let us know if [...]
LAQCs are no longer the right fit for property investors. Have you made the switch?
LAQC / LTC TAX CHANGES As you will now be well aware the LAQC / LTC tax changes are fast approaching. They take effect 1 April 2011. If you have an LAQC and you have not yet discussed with us what course of action to take you need to contact us urgently and [...]
Watchout For Email Scams
Be careful and watch out, there are two new email phishing scams that have been reported by the IRD do not reply to them, see below for more details. First Scam Email: “We are pleased to inform you that upon review of your fiscal activity we have determined that you are eligible to receive a [...]
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