After an election campaign where millions of dollars of funds were promised by the various parties, the rubber will soon be hitting the road to increase our debt and to deliver on these promises. So what does the weekend’s election results mean for business? Clearly with the Labour party majority, they no longer require other […]
For some time Inland Revenue and other Government organisations have been pondering changing how their customers can make payment. Specifically, whether you will be able to make payment using a cheque. There has been some reluctance for Government departments to be seen as the “first cab off the rank” in proceeding with this change. Recently however Kiwibank has announced it will be going cheque free from 28 February […]
Not only have residential investors been hit with the extended 5-year bright-line test, the new loss ring-fencing rules will mean many residential rental property owners may struggle to cashflow the costs of owning their rental property. Legislation was passed in mid-2019 which ring-fences residential rental losses from the beginning of the 2020 income year. A […]
In a time when business confidence surveys are at a 10 year low, and economists have indicated two further official cash rate reductions are imminent, the Inland Revenue has announced an increase to their “use of money interest” rate. Although the IRD have always stated the use of money interest is not a penalty, clearly […]
Who still wants to be a landlord? : By Hayes Knight – 9 November 2018 It seems every day you read the newspaper, there are numerous articles focusing on the New Zealand property market. There have been a number of tax changes aimed at softening the property market. In addition, there are various other rules […]
The property market, and in particular the Auckland housing market, has in recent times been a hot topic for both media and residents alike. Many people will have directly experienced the blunt end of the residential property market when trying to buy a house. If not directly buying or selling, many of us will have […]
Following an initial public consultation period, there has now been a few changes to the proposed legislation around the taxation of lease inducement payments offered by commercial landlords. One of the major changes being the date the new rules will take effect. The following alterations have been made to the proposed legislation: The legislation once […]
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