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Type: Posts; User: Anthonyacat

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  1. Sorry for slow reply, the forum only just...

    Sorry for slow reply, the forum only just notified me of your post.

    By other stuff I mean like if you have a residential property with a carpark, and decide to rent the carpark separately, and/or...
  2. Yes very common and very not allowed. While he...

    Yes very common and very not allowed. While he will probably never get caught, if IRD ever asked he could potentially be asked to justify he reason behind every claim, and get some nasty penalties...
  3. Employees, Customers, Suppliers. ...

    Employees, Customers, Suppliers.

    https://www.ird.govt.nz/topics/income-tax/fringe-benefit-tax/entertainment-expenses

    Most small property investors will not have much if any entertainment...
  4. Nope, no other way. To get equity out is to apply...

    Nope, no other way. To get equity out is to apply for further finance. You apply for a revolving credit facility or offset loan (depending what your bank offers) and keep the cash in there so you...
  5. If the property generated income while in your...

    If the property generated income while in your ownership and while you were a NZ tax resident, is probably taxable in NZ as well as the other country. There may be a tax agreement preventing...
  6. Hi PT88 To start with, for a rental at $15k +...

    Hi PT88

    To start with, for a rental at $15k + GST you don't actually need to be GST registered. I would still usually recommend you do, but it's not actually required as total income is under...
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    Hey - not my area of specialty, but just thought...

    Hey - not my area of specialty, but just thought I'd answer this since no one else has.

    You will have a lot of trouble borrowing in AUD using an Australian bank on a New Zealand property. It's...
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    The last estimation I saw for freeholding a...

    The last estimation I saw for freeholding a cross-lease came in just over $30k for the whole project. Not sure whether that was at the high end or low end of complicated, was a client's work and I...
  9. I had a quick meeting with Kenyon from DuVal...

    I had a quick meeting with Kenyon from DuVal group a few weeks back. Build to rent is an excellent proposition for those with the means and experience to do so. I could absolutely see the big super...
  10. Replies
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    Is out of most people's leagues - Beano can just...

    Is out of most people's leagues - Beano can just be a bit like that sometimes!

    But get 10-35 friends together and surely you can raise the $3.5M deposit to buy the place, no? Reckon I'd be in for...
  11. Hey Perry Proportion of tax take from income...

    Hey Perry

    Proportion of tax take from income tax has dropped markedly in that time. See table below, hope it comes out looking right.




    Year to 30 June:
    2008
    2009
  12. You're probably ok on this one. The Income Tax...

    You're probably ok on this one. The Income Tax Act section CB12 states that profits from a subdivision are taxable if the scheme is undertaken within 10 years of the purchase date. You've held it...
  13. Replies
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    I did mention this directly prior to sham trust -...

    I did mention this directly prior to sham trust - I called it 'self interest'. But yes you've certainly unpacked the concept.
  14. Replies
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    484

    GRA are good trust-expert accountants, but you'd...

    GRA are good trust-expert accountants, but you'd probably be better talking to a lawyer.

    My good-but-not-quite-expert understanding:

    A: Yes I am fairly sure First Home status under Kiwisaver...
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    Hey All - Sorry I missed this thread earlier. I...

    Hey All - Sorry I missed this thread earlier. I don't check PropertyTalk as much these days now Graeme's Facebook group is so popular.

    For your insurance, you'll be wanting to notify them in...
  16. Replies
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    1,440

    For clarity to the rest of the community, 50k...

    For clarity to the rest of the community, 50k threshold applies only to individuals (including LTCs flowing through to individuals). If property is held in a company or trust, threshold is only...
  17. It makes perfect logical sense for subdivision...

    It makes perfect logical sense for subdivision potential to be priced into the asking price - though then discounted for the risks of not being able to do it, as well as the costs and effort involved...
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    Want to amend my previous post but has been too...

    Want to amend my previous post but has been too long.

    What I described in the post in terms of Use of Money Interest was correct until 31 March 2017. As of 2018 and future years, so long as the...
  19. Replies
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    An interesting view. And one that would apply to...

    An interesting view. And one that would apply to all businesses, not just property investors. A few counterpoints.

    To start out with, I've never heard of May as being considered "so late" before....
  20. Replies
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    1,440

    Hold your horses guys! The IRD forms are rarely...

    Hold your horses guys! The IRD forms are rarely available on their website prior to about the 22nd, because they don't want people filing before they get the March PAYE on the 20th.

    This year I'd...
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    1,550

    Don't feed the trolls, or you might attract more....

    Don't feed the trolls, or you might attract more. If they're ignored they go back and sit quietly under their bridge.
  22. Lots of other common reasons people would sell an...

    Lots of other common reasons people would sell an awesome investment at a low price. I think Ronovations got in trouble in the media for pointing them out in a very un-PC way. What was it, deceased...
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    In short, the most likely answer is that the...

    In short, the most likely answer is that the Trust pays, and doesn't write it off or claim it as an expense.

    First up, in many cases insulation is a non-deductible cost anyway, and must be...
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    I was once told by someone who knew his stuff...

    I was once told by someone who knew his stuff that the neighbours can technically go through the system to get the breached property returned to make the title correct again! But in most cases this...
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    You're correct that the subdivision will be safe...

    You're correct that the subdivision will be safe from the bright line test based on the facts above.

    However, subdivisions are taxable by default - unless you meet one of a number of exceptions....
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