Labour and cohorts Taxes

[donna]

Be careful who you vote for - Labor and cohorts are planning a tax grab like NZ has never experienced.

Expect to lose the loan interest deductibility and the introduction of new taxes. 28% CGT just covering residential and commercial property and more.

Land value tax - TOP...

[turtlepower]

We currently have a mortgaged property (Property 1) as our main residence, we recently purchased a property (Property 2) which will become our main residence while Property 1 will become a rental.

We will need to get a new mortgage to buy Property 2 and it was recommended that we initiate...

[primal]

Got ird tax return for my rental property with personal income.
Is it better to pay from personal income or rental income account.

[donna]

Stuff journos did some digging and came up with some good stats.

In Aus, expect to pay 100% more to eat out (comparing SYD to AKL)! 25% more for wine.

Aus Pension is age 67 and means-tested.

TAX when you buy and sell property!

Leaving loose...

[Brendonw]

Hi All,

Quick rundown.

When I purchased the house 9 years ago it was purchased into a trust (i was the only trustee) the CV on it has now doubled.

I then dissolved the trust in 2022 and put the house is solely under my name as the trust wasn't needed anymore....

[donna]

Hi All,

We have AirBnB here - would, could, does the IRD even care to do the same if there are tax payment issues with these large corps?

Regards,

Donna...

[donna]

A study says we need $200K income to be happy.

I get it, but surely we don’t need that much - do we?

Who can do the math and work out what we really need to be happy in a main centre and a town?

regards

Donna

[Sanya]

Greens Proposed Wealth Tax

Wow, what are your thoughts people!

A 2.5% Wealth Tax on assets - things like properties or shares - worth more than $4 million (minus mortgages and other debt) for couples and $2 million (minus mortgages and other debt) for individuals. This will...

[villan]

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...

[Albert]

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...

[aplomb]

Hi PT

How much can be gifted per year before tax is applied(if any)? It is to a family member.

TIA ????

[Jeffa]

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...

[markstewie]

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...

[Bluekiwi]

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...

[Juicy Guava]

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?