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New Article - Tax on property speculation - 18 April 2004

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  • New Article - Tax on property speculation - 18 April 2004

    Hello all!

    there is a new article titled "Tax on property speculation" which has been submitted by Jeff Owens.

    Here is the first paragraph->

    Recent articles:
    There has been a series of articles in NZ newspapers in respect of Inland Revenue targeting property sales in Queenstown and Wanaka.

    See for example:
    • Chch Press 27 March 2004: Boom-town property tax probe
      Southland Times 29 March 2004: IRD property probe `only matter of time'
      NZ Herald 29 March 2003: Tax department to investigate property speculation


    The Chch Press article quotes IRD saying
    • “Inland Revenue will have audit teams in Queenstown and Wanaka for "as long as it takes" to investigate property speculators in the region”;
      “property speculation was rife;
      audit teams were not only looking at developers, real estate agents, and buyers, they were also investigating the "secondary layer, like the building industry


    Here is a link to the Article->
    http://www.propertytalk.co.nz/module...ge&pid=105

    Cheers

    Marc
    Free business resources - www.BusinessBlogsHub.com
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