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Type: Posts; User: Rosco

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  1. Replies
    4
    Views
    192

    Are you over thinking things? I presume you...

    Are you over thinking things?

    I presume you have been together more than 3 years.

    If your assets are the same, your incomes are the same, what is the issue? Normally you would have a...
  2. Replies
    3
    Views
    323

    Thanks. I find the rules a bit stupid. Idea...

    Thanks.

    I find the rules a bit stupid. Idea is to stop you claiming a rental loss against personal or business income. So why can't rental profit from personal home offset rental loss? Or...
  3. Replies
    3
    Views
    323

    Ring Fencing Basics and Eleven Examples

    Ring Fencing Basics and Eleven Examples



    As many of you will know, Ring Fencing comes in from 1/4/19. This basically means that you cannot offset residential property losses against other...
  4. As I put in my comment, would this apply to...

    As I put in my comment, would this apply to holiday home? If they want to use it for 3 months which I presumed was for a holiday home, then can they use this clause as I'm guessing it won't be their...
  5. Replies
    6
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    344

    Small thing, there isn't capital gains tax! ...

    Small thing, there isn't capital gains tax!

    But you can be taxed under lots of other provisions such as subdivisions, intention, rezoning, builder rules, tainting.

    IRD have recently put out...
  6. I'm presuming this is a holiday home. If so,...

    I'm presuming this is a holiday home.

    If so, is wanting to use the property as a holiday home over summer a reason you can give to cease the tenancy?

    This presumably wouldn't be the owners...
  7. Hi Henry, it depends. How much is chattels...

    Hi Henry,

    it depends.

    How much is chattels depreciaton, how much is building depreciation?
    What is the building really worth now vs the closing book value.

    As with most things I would...
  8. I'm not great on tenancy laws, but from talk on...

    I'm not great on tenancy laws, but from talk on facebook groups, this is them sliding it in. Expected May / June 2020.

    Ross
  9. So just do it once every 12 months for a bigger...

    So just do it once every 12 months for a bigger rent increase! I can't see the benefit for tenants in this rule change, and I also can't see the issue for landlords.
  10. I'm pretty sure they are looking at turning fixed...

    I'm pretty sure they are looking at turning fixed tenancies into periodic, so you would also need a reason to cease fixed term tenancies!
  11. I actually don't think these are that bad - 63...

    I actually don't think these are that bad
    - 63 days notice if selling. Just means have to be organised and plan!
    - 3 compliants within 90 days, then tenancy tribunal helps a bit
    - 3 late rents...
  12. Hi, Xero is very common as most accountants...

    Hi,

    Xero is very common as most accountants also use it. Through an accountant it is only $12 per month for a non GST cashbook.

    Xero should save you time by memorising transactions and...
  13. Hi, By your question it sounds like you...

    Hi,

    By your question it sounds like you already know the answer, but just don't want to admit it. Generally costs related to preparing for sale are not repairs, so not deductible. The true test...
  14. Hi Andrew, Is your personal house a good...

    Hi Andrew,

    Is your personal house a good rental?

    I'll put it another way. If you didn't own the property, and you were looking to buy a rental, would you buy your existing personal home as a...
  15. Thread: 42 day notice

    by Rosco
    Replies
    7
    Views
    753

    You will need to check that before relying on my...

    You will need to check that before relying on my tenancy advice! As I put, I'm not great on it and I would ask someone else!
  16. Thread: 42 day notice

    by Rosco
    Replies
    7
    Views
    753

    Hi, I'm not great on tenancy law, so hopefully...

    Hi,
    I'm not great on tenancy law, so hopefully someone else will add some more or correct me.

    Who owns the property? If a Company, then I'm not sure they can do the 42 days, as the company...
  17. Replies
    2
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    316

    Hi, I'm not sure a forum is the right place...

    Hi,

    I'm not sure a forum is the right place for these questions. This is very specific information and is going to be very specific to your site. How wide it is, what zone it sits under etc.
    ...
  18. Thread: Interest Rates

    by Rosco
    Replies
    5,920
    Views
    996,241

    Why not use a broker?

    Why not use a broker?
  19. Replies
    4
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    665

    Hi Premo, 1) Insurance - I would check you are...

    Hi Premo,

    1) Insurance - I would check you are covered for insurance

    2) Builders final items - From my experience I would make sure all items have been fixed before you move in, and before you...
  20. Thread: Family House

    by Rosco
    Replies
    4
    Views
    358

    So really you are borrowing all the $1.1m! As...

    So really you are borrowing all the $1.1m! As otherwise could put the $200k on your personal house

    I would suggest working out your full cashflow, and guessing it is quite negative with full...
  21. Thread: Family House

    by Rosco
    Replies
    4
    Views
    358

    Hi, Are you in a position to help them? Think...

    Hi,

    Are you in a position to help them? Think seriously on this.

    If so, does it need to be a 6 bed house that will give you a $900k mortgage?

    Is the property a good investment? ie is rent...
  22. Replies
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    1,998

    Get some advice from a property expert on this,...

    Get some advice from a property expert on this, as this statement isn't correct.

    There are ways a share transfer can create a taxable activity for property companies, but it is not as your...
  23. Replies
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    727

    I would suggest getting some expert advice, as...

    I would suggest getting some expert advice, as you are asking a lot of questions and answers always depend on your exact circumstances.

    For example, if this was really a trade, where you purchased...
  24. Get some expert advice! It depends on who owns...

    Get some expert advice!

    It depends on who owns the two properties. If just a partnership of A and B, then half the property profit or loss will flow to A for example, they might get $5,000 profit...
  25. From tax perspective and legal perspective you...

    From tax perspective and legal perspective you are selling and then buying again. So could be subject to Brightline rules, and/or GST or other taxing provisions.

    Ross
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