FAQS
ARE MY PERSONAL INSURANCE PREMIUMS TAX-DEDUCTIBLE?
It’s a good question. Here’s the expert opinion of John Brown, LL.B, Dip Fin Pl: Purpose Business insurance can be arranged so that business loans can be reduced or repaid not only on the death, or total disablement of the business owner, but also on the owner experiencing a critical illness or trauma, like a heart attack,…
Read MoreCHANGES TO FINANCIAL REPORTING REQUIREMENTS FOR SMES
ou might have heard of the Financial Reporting Act 2013 and the Financial Reporting (Amendments to Other Enactments) Act 2013. Maybe not. Anyway, changes which took effect on 1 April 2014 mean that entities that do not meet the large entity definition will no longer be required to prepare financial statements in accordance with NZ GAAP.
Read MoreHOW TO MAKE A COMPLAINT
How to make a complaint? It is our aim to provide you with premium customer service. Yes, sadly we don’t get it right 100% of the time. So, here is our complaints procedure: That’s it. We try and make it as easy as possible for you to complain. Thanks in advance! FEEDBACK – GENERAL If…
Read MoreARE THE LOSSES FROM MY RENTAL IN NZ TAX-DEDUCTIBLE IN THE UK (IF I’M WORKING THERE)?
ARE LOSSES FROM MY RENTAL IN NZ TAX-DEDUCTIBLE IN UK? …you have a rental property here in NZ, and it is making a loss; can you claim it in your UK tax return?
Read MoreRESIDENTIAL CARE SUBSIDY AND GIFTING
Previously, the country’s lawyers had advised people to gift no more than $54,000 per couple per year so that they wouldn’t be accused of excessive gifting when it came time to be assessed for a residential care subsidy. If your assets come under certain figures the Govt. will subsidise your rest-home care.
Read More6 MINUTES ON DEPRECIATION
If you own rental property, one of the things your accountant will look at is depreciation. If you’ve got 6 minutes and 5 seconds, then watch this animated video from Inland Revenue.
Read MoreLTCS VS QCS AND LAQCS
LTCS VS QCS AND LAQCS. Unlike the LAQC rules, shareholders of an LTC are liable for tax upon the company’s profit, as well as being able to offset the company’s losses against their other income.
Read MoreARE THE LOSSES FROM MY RENTAL IN NZ TAX-DEDUCTIBLE IN AUSTRALIA IF I’M WORKING THERE? PART 1
Whereas the LAQC taxed profits at corporate tax rates, the LTC taxes profits at the personal tax rate of the shareholders.
Read MoreIF I SELL THE FAMILY HOME TO AN LTC IS THE INTEREST TAX-DEDUCTIBLE?
Under present rules i.e. pre 1 July 2024, unless the house is rented to an approved community housing provider or is a “new build”, there is no interest deductibility
Read MoreVALUATION OF CHATTELS – WHY NECESSARY
By getting a specialist valuation company to do your valuation, you will be able to claim everything that the Law allows. Do it yourself, and you’ll miss something, and, as a result, claim less and pay more tax
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