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Selling Contracts - Does it make you a trader?

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  • Selling Contracts - Does it make you a trader?

    howdy!

    the subject pretty much sums up the question...

    if you complete a S&P agreement with "and/or nominee", and then onsell the contract, are you considered a property trader?

    Not something I'm doing or have done yet, I'm just interested in the way this is perceived by the IRD.

  • #2
    I wouldn't think so, as you never have the title in your/company/trust/entity name. You aren't buying property, just earning a finder's fee. The income you receive would still be taxable though. You would probably be best to do this in your own name or a different entity, to be safe.

    Regards
    Graeme Fowler
    Facebook Property Chat Group NZ
    https://www.facebook.com/groups/340682962758216/

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