Well I have gone out of property trading, only did a couple, but made about 60k.
Something to offset against my flat disaster loosing about 150k.
But anyway,........
Dont want this tainting any further activities as I am looking at buying some more long term rentals.
As it tainted some rentals I bought, while I was also trading.
So we have done a trustee resolution for the trading trust to say that we have wound up the operations of the trust.
And will not be carrying on any activity of property trading.
But I heard last night I should also de-register from GST.
Which I will do.
But I just wanted to check the implications of this, as I am thinking that in 5 or 10 years time I may start up again.
Can I just do a trustee resolution saying we are back in business again, and then go to the IRD and have the trust registered for GST again.
Is it as simple as that, or something more tricky involved.
Something to offset against my flat disaster loosing about 150k.
But anyway,........
Dont want this tainting any further activities as I am looking at buying some more long term rentals.
As it tainted some rentals I bought, while I was also trading.
So we have done a trustee resolution for the trading trust to say that we have wound up the operations of the trust.
And will not be carrying on any activity of property trading.
But I heard last night I should also de-register from GST.
Which I will do.
But I just wanted to check the implications of this, as I am thinking that in 5 or 10 years time I may start up again.
Can I just do a trustee resolution saying we are back in business again, and then go to the IRD and have the trust registered for GST again.
Is it as simple as that, or something more tricky involved.
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