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Tax on sale of Rental Property

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  • donna
    replied
    Originally posted by BlueSky View Post
    This website is now very annoying, while posting it continuously is asking for password despite already signed in.
    Plus check for software updates. I use Chrome and Safari.

    cheers

    Donna

    Leave a comment:


  • Perry
    replied
    That would be very annoying. If no other PT forumite is having that problem, try another web browser, in case your present one has indigestion.

    Leave a comment:


  • BlueSky
    replied
    This website is now very annoying, while posting it continuously is asking for password despite already signed in.

    Leave a comment:


  • BlueSky
    replied
    Originally posted by Lodestar View Post
    I had sold a rental property in March this year under my LTC. I had this property for over 5 years. Do I need to inform IRD for this sales and the capital gain I have? Please adivse what I should do. This was my only rental property. Thank you.

    There are two things you cannot avoid
    death and Taxes and guess what IRD has all systems linked money -- cash cow for this Lab govt to pay for all their mistakes

    https://www.ird.govt.nz/property/buy...formation-form

    Leave a comment:


  • BlueSky
    replied
    Originally posted by donna View Post
    Get a property accountant like GRA.

    Plus read up on capital gains tax etc. It’s all about your intention as well as the bright line test.

    cheers

    Donna

    They are a bit too expensive for a single property - a good property account should be able to know


    They are good in all matters of tax but unfortunately bit too expensive - you think with all the efficiencies it will be getting cheaper


    Leave a comment:


  • donna
    replied
    Get a property accountant like GRA.

    Plus read up on capital gains tax etc. It’s all about your intention as well as the bright line test.

    cheers

    Donna

    Leave a comment:


  • Lodestar
    started a topic Tax on sale of Rental Property

    Tax on sale of Rental Property

    I had sold a rental property in March this year under my LTC. I had this property for over 5 years. Do I need to inform IRD for this sales and the capital gain I have? Please adivse what I should do. This was my only rental property. Thank you.
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