FAQS
POSITIVE GEARING VS NEGATIVE GEARING
Investing in property can be a lucrative venture, but it’s essential to understand the financial strategies involved. Two terms that frequently arise in property investment discussions are positive gearing and negative gearing. In New Zealand, these concepts play a significant role in how investors manage their real estate portfolios.
Read MoreTHE 7 JULY TAX DEADLINE NZ: HOW EXTENSION OF TIME ACTUALLY WORKS
The 7 July tax deadline NZ taxpayers face catches more people out than almost any other date on the tax calendar. Not because they miss it outright — because they don’t realise it doesn’t apply to them. If you’re linked to a tax agent, you’re very likely working to a completely different deadline. Mixing the…
Read MoreCHANGING SHARES IN LTCS: CONSIDERATIONS
Let’s say that the company owes the shareholders $150,000. This is tracked in the Shareholders Current Account, and is a liability (debt) of the LTC…
Read MoreTAX RETURN FAQ
Q: Why do I need to complete a tax questionnaire every year?
A: This is basically to cover your back. It proves that we and you have all asked/answered the right questions, if anyone ever asks. Could come in handy if you are trying to prove your innocence to IRD.
WHAT CAN YOU CLAIM ON YOUR INVESTMENT PROPERTY?
What can you claim on your investment property? Investing in property can be a rewarding venture, but to maximize your returns, it’s essential to understand what expenses you can claim. Knowing your deductible costs can help reduce your taxable income, ensuring you keep more of your rental earnings. Below, we provide an overview of claimable…
Read More“IRD RISK REVIEW” VS IRD “REQUEST FOR MORE INFORMATION”
Facing an IRD Risk Review is a scary thing. You might have read about Audits, and Risk Reviews. But what does the process (sometimes) look like?
Read MoreOVERSEAS SHARES: SHOULD YOU BE A DE MINIMIS INVESTOR?
Overseas shares: Should you be a de minimis investor? It’s a good question. Learn why staying under the “de minimis” threshold(opens in new tab) might not actually get you the most tax-efficient outcome. Let’s get into the nuts and bolts of that. First, here is a high-level overview: Key Points (30 Second Read) The de…
Read MoreRENTAL PROPERTY: WHAT RECORDS DO YOU NEED TO KEEP?
What records do you need to keep for your rental* property? Here is a general guide. Note that this list assumes you are using a property manager. All costs are for the 12 months preceding 31 March:RENTAL PROPERTY Copy of Sale & Purchase Agreement (if 1st year)Total Rent ReceivedInsurances, e.g. Landlord Protection, Mortgage Protection, HouseLegal feesProperty Management fees (if applicable)Rates – water and CouncilMaintenance, including any purchases e.g. heat-pumpRubbis […]
Read MoreTHE ULTIMATE GUIDE TO BUSINESS STRUCTURES AND RECORD-KEEPING
The ultimate guide to business structures and record-keeping in New Zealand? Yes: you’ve come to the right place! Managing a business in New Zealand involves careful planning, choosing the right structure, and maintaining meticulous records. This guide explores the most common business structures in New Zealand and provides practical tips on record-keeping to ensure compliance…
Read MoreARE TAX BENEFITS A GOOD REASON TO CHANGE COMPANY SHAREHOLDINGS?
Previously you both earned about the same, but now there is a child in the mix, and one of you is working less as a result, and earning less as a result.
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