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.
Read MoreThe better informed our clients are, the easier it is to make great decisions together.
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 life of a residential property investor just got more complex after the Government finally released last week its long-awaited draft legislation, relating to its housing tax policy announced on 27 March this year.
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For many investors the impact of phased removal of interest deductibility is still sinking in. In this article we explore some of the consequences of the change that may not have been apparent at first glance.
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By now, the shock of the Government’s unprecedented and unheralded move to phase out the deductibility of interest for residential investors will be beginning to sink in.
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The Government has announced two significant changes set to impact Residential Property Investors.
1. The phased removal of interest deductibility
2. Doubling the Brightline from 5 to 10 years
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“I have always been on my own and wanted to be secure in my retirement years and enjoy things like travel. Fortunately I have been a good saver and worked hard to pay down my mortgages. I have done this under the guidance of Withers Tsang who have given me confidence to achieve these goals. What has made it so special is the warm relationship I have with my accountant. He is like a friend who is always available if I need advice and supports me with encouragement. ”