111 results in 0.0147 seconds.
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Doing my own tax returns
Up until this year we have used an accountant to do our tax returns for two properties but he has retired and referred us to another one. We only have one property now and the fee is just as much so I am inclined to fill out the returns myself rather than use an accountant. Is there anyone out there... -
Sale from GST Trading entity to Long Term rental company (associated persons)
Hi There,
My friend bought a property to trade, buy and sell and make a profit and has claimed GST on the purchase.
He has now decided to keep this as his family home, or a rental to pass on to his children.
If he sells it from his GST reg trading entity to his Rental...Last edited by Albert; 05-01-2023, 04:12 PM. -
Gifting amount and rules
Hi PT
How much can be gifted per year before tax is applied(if any)? It is to a family member.
TIA ???? -
The Golden mile
When you take out the bottom of the market and landlords exit , it's the bottom of society who gets affected the most.
Loss of Tax deductibility on mortgages, increased compliance costs and general anti landlord sentiment caused by media and the current government was the most likely cause...Last edited by Jeffa; 07-09-2022, 05:23 PM. -
Tax on sale after subdivision of long term rental property?
Hi everyone,
I have a tax question if anyone here can help!?
We bought a property in Auckland in 2011. It was configured as a big five bedroom villa at the front, and a small minor dwelling at the back. We have rented both independently since we bought it.
After... -
Wealth Tax - Labour / Greens -
Not this term / But Policy for their next term (From our nice socialist / communist masters)
Okay so if National dont get in 2023 or 2026 then we will have a Wealth Tax of some sort that David Parker is setting the ground work for.
https://www.newshub.co.nz/home/politics/2... -
How to account for capital gains
Hi there, i'm a book keeper and my boss is selling a rental property (set up in LTC) after 15 years so it will include a large capital gain that he plans to withdraw for his personal use. Firstly how do I enter the capital gain in MYOB, and then how is the withdrawal of the money also coded? -
IRD - residential rental losses and rental profits
We now have 3 years of data from Official Information Act requests- tax years 2017, 2018 and 2019. The 2017 data is from one of Mr Butler's media releases and is partial.
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ACC levy for retired person has a rental income?
Hi there
My parents just received a 2020 ACC levy invoice.
They have a LTC company set up to manage the rental property, but both of them are retired and over 70, are they still liable to pay ACC levy? Is this because they are the owner of LTC so liable to pay ACC?
If the rental... -
Loan to take capital out of property
Like most, my property has realised capital gains and has over $600k equity. My current account balance is zero. The structure is a look through company. My question is this. Is the LTC allowed to take out a loan of $150k against the rental property and give that to me for personal use, essentially... -
Please advice to minimum my tax
Hi guys,
Hope you guys can please advice me in this situation.
I bought my first home in Sep 2018 for 600k to live there with some renovate then I sold it in July 2019 for 680k.
I bought a second house to live in August 2019 for 650k and just sold it for 720k.
I'm... -
Depreciation on building
I have heard depreciation on commercial buildings is back again!
Great news ... looking forward to the details.
I use to get $175k depreciation in the old days.... double bonus perhaps with another decrease in interest rate. -
Subdivided property
We purchased a property on one title as our family home, after 12 months we divided the house and land into two separate titles. Land and building. We sold one of the properties and continued living in the other one.
I am unsure of our tax obligations.
I have spoken to an accountant who... -
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 income.
What does this really mean for a lot of property investors? If...Last edited by donna; 09-12-2019, 05:25 PM. -
Tax on international income
Hi people, I've been reading a lot in interest.co.nz lately about IRD contacting New Zealanders who have bank accounts or investments overseas and haven't declared any international income on their NZ tax returns.
This may be a very silly question, but I have a tiny shareholding in the...
