FAQS
TRUST LAW CHANGES NEW ZEALAND
Trustees will now have some mandatory duties to fulfill
Trustees must disclose certain information to all the beneficiaries – no more opacity!
Read MoreCAPITAL GAINS TAX: RENTAL PROPERTY EFFECTS & STRATEGIES
Capital Gains Tax rental property effects & strategies: What should or could you do? Here is a high-level overview: WHAT WILL BE TAXED? Everything except your grandma. No, not quite. All land except family home, shares, business assets and intangible property. Seems that cars, boats, jewellry, fine art, collectibles and other household durable items would…
Read MoreTAX WORKING GROUP INTERIM REPORT – IMPACT ON PROPERTY INVESTORS
The Tax Working Group (TWG) has published its interim report. What will be the impact on property investors? Please see the PDF below for an executive summary, courtesy of Forsyth Barr. equity_strategy_2018-09-21_twg_looks_to_stretch_taxable_“income”.pdf Download File THE GIST OF IT Basically, the TWG wants to extend taxes on capital gains to things other than property. But, they…
Read MoreCRYPTOCURRENCIES: IRD TAX TREATMENT; FRAUD WARNINGS
We believe that if you hold (or “hodl”) crypto and stake it in order to earn crypto-rewards (usually more crypto), then the crypto itself functions much like a term deposit.
Read MoreWHAT’S THE PROCESS FOR MY TAX RETURNS?
Here are the main steps involved in your tax return preparation
Read MoreWHAT IS A PHISHING EMAIL? WHAT DOES IT LOOK LIKE?
According to Wikipedia*, “phishing is the attempt to obtain sensitive information such as usernames, passwords, and credit card details (and money), often for malicious reasons, by disguising as a trustworthy entity in an electronic communication.[1][2]“ WHAT DO PHISHING EMAILS LOOK LIKE? Quite often they look like a legitimate email from IRD (about a tax refund, or warning of tax owing), or an email from a…
Read MoreTAX CHANGES AFOOT
TAX CUTS Tax changes afoot! But what? Currently (in mid-2017), the tax thresholds are as follows (before the 39% rate of 2021 was introduced): As you may recall, these were to be changed. However, due to a change of government, there will be no change to these tax rates. There will no doubt be…
Read MoreSSL, SITE SECURITY
As a result of changes imposed by Google, we acquired an SSL certificate for our website. The host has rolled this out to all sites. Meantime, if you wish to check our credentials, you can do so here. For more information, please contact us
Read MorePROVISIONAL TAX CHANGES
PROVISIONAL TAX CHANGES From the 2018 income year (that is, 1 April 2017 onwards), the safe harbour threshold has been increased! Hooray, I hear you say. It’s gone from $50,000 to $60,000. It has also been extended to non-individual taxpayers e.g. companies. What does this mean? Use of Money Interest (UOMI) will only be payable…
Read MoreWHY YOU SHOULD (ALMOST) ALWAYS GET CHATTELS VALUED
Why is a chattels valuation necessary? Why you should always get chattels valued: In exploring the necessity of a chattels valuation, it’s crucial to delve into the intricacies of property assessment and taxation. While standard valuations typically assign a modest value to chattels, often ranging from $10,000 to $15,000, they frequently overlook numerous depreciable items…
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