ACC levies for companies that exist only to own property

[Merlot Mike]

I was wondering if someone might be able to clarity this for me... I own a commercial rental that I bought around four years ago. It's owned not by me but a company that I'm the sole director of. The company does nothing other than own that building. The company has just just received an ACC levy bill...

[TessaNZ]

Hiya

Can anyone shed some light on the meaning of the description of improvements from the Auckland City Council? I.e. what is the difference between "House & Flat' versus "2 flats"?


Thanks!

[north shore]

New Auckland council rates for 2018-2019 are online now
Much to my disgust both the new targeted rates, the Natural Environment and the Water Quality Targeted Rate are levied on your capital value not as a flat rate.

[lissie]

Last tax year we sold some properties and wound up the company (QC) which owned them. We'd had the properties for about 10 years so there was quite a large depreciation recovery, which we will obviously pay tax on. The recovery was attributed to the directors in proportion.

However...

[optocarol]

Have searched but need help. My trust owns a only 1 rental property, which is cashflow +ve. It is not registered for GST. If it is registered, it seems it might then have to pay ACC. I am trying to decide if this is worth the bother.