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View Poll Results: How would ring-fencing of residential rentals affect you?

Voters
36. You may not vote on this poll
  • Not at all

    23 63.89%
  • Slightly

    4 11.11%
  • Seriously, but I'll cope

    7 19.44%
  • So seriously, I'll be re-structuring

    2 5.56%
  • So seriously that I'll be selling some of my residential rentals

    0 0%
  • So seriously that I'll be selling all of my residential rentals

    0 0%
Page 95 of 95 FirstFirst ... 45 85 93 94 95
Results 941 to 949 of 949
  1. #941

    Default

    Aagh, you got me, thats a typo should have been FY20, will edit, thanks. Anyway I wanted to file asap as I knew I was loss making and wanted to bring my 7 May Prov tax down

  2. #942
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,684

    Default

    Quote Originally Posted by flyernzl View Post
    The silly thing is that the Govt has bought in an allowance of $5000 for a capital expense write-off for one year to encourage landlords to spend, and then imposed the ring-fencing which will deter those same landlords from spending.
    Real Lewis Carroll stuff!
    They would have been intending this for businesses not property.
    Not sure where to start, book a free chat for 5-10 minutes https://cswaikato.co.nz/services-pro...s-hamilton/201
    Ross Barnett - Coombe Smith Property Accountants


  3. #943
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,089

    Default

    Quote Originally Posted by Rosco View Post
    They would have been intending this for businesses not property.
    I have an email fro MBIE that states unequivocally that they consider residential rentals to be a business.

  4. #944
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,684

    Default

    Quote Originally Posted by flyernzl View Post
    I have an email fro MBIE that states unequivocally that they consider residential rentals to be a business.
    I'm not saying rentals isn't a business. Just that they would have intended the $5,000 new asset threshold for business not property

    Ross
    Not sure where to start, book a free chat for 5-10 minutes https://cswaikato.co.nz/services-pro...s-hamilton/201
    Ross Barnett - Coombe Smith Property Accountants


  5. #945
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,487

    Default Eh, What?

    Stop digging, Ross.

    E.g. Buying an asset like a heat pump (for a residential rental property) is not the same as 'property.' (Whatever your bubble defines property as.)

    And - how have you divined this: they would have intended

    An Appeal Court bench appointment beckons, perhaps?

    Have fun with the nouveau 'what parliament intended' dilemma.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #946
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,684

    Default

    Quote Originally Posted by Perry View Post
    Stop digging, Ross.

    E.g. Buying an asset like a heat pump (for a residential rental property) is not the same as 'property.' (Whatever your bubble defines property as.)

    And - how have you divined this: they would have intended

    An Appeal Court bench appointment beckons, perhaps?

    Have fun with the nouveau 'what parliament intended' dilemma.
    Hi Perry,

    The original post that I answered to was "The silly thing is that the Govt has bought in an allowance of $5000 for a capital expense write-off for one year to encourage landlords to spend,"


    This original post is subjective just like my answer. It is the poster presuming that the $5,000 capital expense write-off was to encourage landlords to spend.

    My opinion also subjective as it was an opinion, was that government hate landlords and wouldn't do anything to encourage landlords to do anything, instead my opinion was the government intended this allowance for business. So government either don't care or didn't think of the consequences for landlords.

    Ross
    Not sure where to start, book a free chat for 5-10 minutes https://cswaikato.co.nz/services-pro...s-hamilton/201
    Ross Barnett - Coombe Smith Property Accountants


  7. #947
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,487

    Default Heh, Heh.

    Quote Originally Posted by Rosco View Post
    The original post that I answered to was "The silly thing is that the Govt has bought in an allowance of $5000 for a capital expense write-off for one year to encourage landlords to spend."
    Right. But that sentence is not subjective.

    The way you responded is such that, in your mind, the expression LL necessarily implies residential rentals?

    Either way - commercial or residential - are you implying or suggesting that the commercial activity of being a residential rental LL is NOT a business that can incur a capital expense?

    I doubt it.

    It may be a gummint unintended consequence for residential rental LLs, but it is tax-specific, nonetheless.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  8. #948
    Join Date
    Jun 2004
    Posts
    10,631

    Default

    Quote Originally Posted by Perry View Post
    Right. But that sentence is not subjective.

    The way you responded is such that, in your mind, the expression LL necessarily implies residential rentals?

    Either way - commercial or residential - are you implying or suggesting that the commercial activity of being a residential rental LL is NOT a business that can incur a capital expense?

    I doubt it.

    It may be a gummint unintended consequence for residential rental LLs, but it is tax-specific, nonetheless.
    Residential and commercial could incur a capital expense and would be able to write it off under the $5k allowance.
    Not all business (rental or otherwise) make losses and therefore many residential rental owners will be able to happily use this (I will).
    Some people seem to narrow these things down far to far - there is more to NZ business than residential rentals!

  9. #949
    Join Date
    Jun 2004
    Posts
    10,631

    Default

    Quote Originally Posted by flyernzl View Post
    The silly thing is that the Govt has bought in an allowance of $5000 for a capital expense write-off for one year to encourage landlords to spend, and then imposed the ring-fencing which will deter those same landlords from spending.
    Real Lewis Carroll stuff!
    You have such a narrow view of the world.
    It wasn't brought in just for landlords and many landlords will still be able to use it as they make a profit (don't you?)!
    Your world may revolve around property but not everyones does.


 

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