Something we’re often asked to clarify are the compulsory zero rating rules that apply to all land transactions between GST registered people.
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With summer approaching and the market delivering opportunities for buyers, you may well spend your holiday time contemplating the purchase of a bach, which you’ll then rent out to other holiday makers.
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New build land is typically defined as land to which a self-contained home or residence has been added. A code of compliance must have been issued on or after 27 March 2020, showing that the home or residence has been added to the land.
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We are told the bank of Mum and Dad is now the largest bank in NZ. At face value, this seemingly generous act would appear to be a silver bullet for those who are fortunate enough to be in a position to help their offspring. However, it can be fraught with issues.
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Budget 2022 aims to ensure economic and social security for generations to come, by investing in the infrastructure alongside the largest investment in the health system to date. Climate action and lifting more children from poverty, building more houses, encouraging education, upskilling, and delivering higher-wage jobs to drive productivity feature also.
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Enacting legislation bringing into force the governments property tax changes has finally been passed. To date, advisors have been forced to guide clients based on policy announcements but with legislation now in place there are a few quirks worth exploring in more detail.
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The Inland Revenue has released a special report on the changes to interest deductibility and Brightline tax rules. In this article we will cover off these changes and how it relates to Brightline.
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In a tax year where fairness and equity in our property tax system was seemingly sacrificed, it is as important as ever to go into the new year with a clear picture of what lies ahead on the tax front.
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When it comes to tax, much of the focus is on minimisation, but of equal importance is understanding the process by which it becomes payable and falls due.
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There has been so much focus on the tax changes to property of late that it’s easy to forget that there are different types of property investment and they are most certainly no longer treated equally or fairly under the existing tax laws.
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The new rules concerning interest deductibility removal and the 10 year Brightline, combined with new planning rules allowing for intensification of large site properties, has many investors considering their options.
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