Property
WHAT 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 LOST MY DEPOSIT ON MY RENTAL LAND & BUILD – CAN I CLAIM THAT AS A BAD DEBT?
“lost deposit rental property tax deductible NZ.” That’s probably what you typed into the search engine that lead you here. If so, you have come to the right article. But first: 30-Second Summary If a developer goes bust and keeps your deposit on a land-and-build deal, the short answer is: no, you can’t claim it…
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 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 MoreGOVERNMENT DIRECTION RE RENTAL HOME LOSSES
Government direction re rental home loss: What is it? What will they do? Will losses be ring-fenced or not? There are certainly differing views out there. One thing is for sure: there’s nothing like rumour. Interest.co.nz lead the charge on the 8th of June 2013 with this headline: Who owns all the homes? MPs…
Read MoreSHOULD YOU FORM AN LTC TO OWN YOUR RENTAL INVESTMENT PROPERTY?
However, this legal vehicle does allow you to proportion losses (and income) according to the amount of shareholding that each shareholder has.
Read More