Property
WHY 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…
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 MoreWHAT IS A “LAWYER’S SETTLEMENT STATEMENT”?
Sometimes we ask you for a Lawyer’s Settlement Statement. What is it? Here is a sample one for your reference: Please note: if viewing this on a mobile platform, the document plug-in may not work. In this case, please click the link below. lawyers_settlement_statement.pdf Download File
Read MoreDOCUMENTS YOU’LL NEED WHEN PURCHASING A PROPERTY VIA LTC
Documents you’ll need when purchasing a property via LTC. What documents will you need? Resolutions, minutes, IRD forms etc. Your lawyer should prepare these three documents for you: Minutes of Meeting of Directors (Sample) Download File Major Transaction Resolution of Shareholders (Editable, Word format) Download File Resolution Ratifying Resolution of Directors (Editable, Word format) Download…
Read MoreWHAT IS A LOOK-THROUGH COMPANY? (LTC)
What is a Look-Through Company? This structure – also known as a LTC – is a unique business structure in New Zealand that combines the legal benefits of a limited liability company with the tax advantages of a partnership. Introduced in 2011 as a replacement for the Loss Attributing Qualifying Company (LAQC) regime, LTCs…
Read MoreI’M A NZ TAX RESIDENT WITH OVERSEAS INVESTMENT PROPERTY. DO I HAVE TO PAY NRWT? OR AIL?
Good question. The best answer is: look at the flow-chart below (kindly provided by IRD) Basically, if you have overseas investment property and you have a mortgage with an overseas bank, then you might have to pay NRWT. NRWT is Non-Resident Withholding Tax. Essentially, if you’re paying interest, dividends or royalties to people (and banks,…
Read MoreWHAT’S THE BEST WAY TO STRUCTURE OUR MORTGAGES?
You obviously want to know: What’s the best way to structure our mortgages? For 5 tips: scroll down. But let’s assume you have Your own home, with a mortgage A rental property, with a mortgage What do you want to achieve? In order of priority: Pay off the family home Ummm, I haven’t thought much…
Read MoreWHICH OWNERSHIP STRUCTURE SHOULD I USE FOR MY RENTAL PROPERTY? [VIDEO]
If you’ve got 5 minutes, make yourself a hot cuppa and enjoy this video presentation by Garreth Collard, Principal of EpsomTax.com in which he addresses APIA members on the pros and cons of the most common Rental Ownership Structures. Click here for a copy of the handout being used at the presentation. ”You mentioned of transferring the share…
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 MorePOSITIVE 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.
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