Tax
ARE ASBESTOS REMOVAL COSTS TAX-DEDUCTIBLE?
Are asbestos removal costs tax-deductible? Asbestos remains one of the most persistent legacy hazards in New Zealand buildings. While its use declined sharply after the 1980s due to clear links to serious health risks, many homes, commercial buildings, and industrial structures still contain asbestos today. As these buildings age, owners frequently incur costs to test,…
Read MoreOFFSET LTC PROFITS OR LOSSES AGAINST OTHER RENTALS
Note that you can’t offset any losses against income from other sources e.g. wages, like you used to in the good old days. That is what the concept of “ring-fencing of losses” means. The losses are “ring-fenced” so that they only apply to residential rental property.
Read MoreNAVIGATING CRYPTO TAX IN NEW ZEALAND
Navigating Crypto Tax in New Zealand: Cryptocurrency has gone mainstream in New Zealand. Whether you’re trading Bitcoin, minting NFTs, or staking tokens, chances are you’ve wondered: Do I need to pay tax on this? The short answer is yes. The long answer? Well, let’s dive into it. This guide breaks down how crypto is taxed in…
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 MoreARE RENTAL LOSSES NZ TAX-DEDUCTIBLE IN AUSTRALIA?
does the ATO allow losses from rental property in New Zealand owned by a New Zealand LTC to be offset against personal waged income earned in Australia?
Read MoreTAXABLE RENTAL INCOME IN NEW ZEALAND
Taxable rental income in New Zealand …many New Zealanders understand that rent from an investment property is taxable. However, far fewer realise that the rules extend well beyond traditional rental properties. You might own a rental property with long-term tenants. Alternatively, you might rent out a room in your home,(opens in new tab) host short-term…
Read MoreWHAT DOES THE 2025 INVESTMENT BOOST MEAN FOR BUSINESS?
What does the 2025 investment boost mean for business? Property investors and business owners have been wondering about this since the 2025 Budget introduced one of the most substantial support measures for businesses in recent years—the “Investment Boost.” If you are an investor and/or own a business and are considering buying new assets like equipment,…
Read MoreWHAT TRUST TAX CHANGES MEAN FOR MY FAMILY TRUST
What trust tax changes mean for my family trust: Is that something you have been wondering about? “Lately, I’ve been hearing a lot about rising taxes on trusts and the growing wealth gap between generations. Like many families, we’ve worked hard to build up some assets — a home, maybe a rental or two, a…
Read MoreREPAIRS TO NEWLY ACQUIRED ASSETS: WHAT’S TAX DEDUCTIBLE?
Repairs to newly acquired assets: what’s tax deductible? When acquiring an asset – including rental property – it’s common to incur repair costs to bring it up to a usable standard. But can those costs be claimed? The Inland Revenue Department (IRD) has released updated guidance on the subject, including a “Question We’ve Been Asked”…
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.