Posts Tagged ‘howto’
WHAT 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 MoreWHAT CAN YOU CLAIM ON YOUR INVESTMENT PROPERTY?
What can you claim on your investment property? Investing in property can be a rewarding venture, but to maximize your returns, it’s essential to understand what expenses you can claim. Knowing your deductible costs can help reduce your taxable income, ensuring you keep more of your rental earnings. Below, we provide an overview of claimable…
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 MoreOVERSEAS SHARES: SHOULD YOU BE A DE MINIMIS INVESTOR?
Overseas shares: Should you be a de minimis investor? It’s a good question. Learn why staying under the “de minimis” threshold(opens in new tab) might not actually get you the most tax-efficient outcome. Let’s get into the nuts and bolts of that. First, here is a high-level overview: Key Points (30 Second Read) The de…
Read MoreRENTAL PROPERTY: WHAT RECORDS DO YOU NEED TO KEEP?
What records do you need to keep for your rental* property? Here is a general guide. Note that this list assumes you are using a property manager. All costs are for the 12 months preceding 31 March:RENTAL PROPERTY Copy of Sale & Purchase Agreement (if 1st year)Total Rent ReceivedInsurances, e.g. Landlord Protection, Mortgage Protection, HouseLegal feesProperty Management fees (if applicable)Rates – water and CouncilMaintenance, including any purchases e.g. heat-pumpRubbis […]
Read MorePIES vs DIRECT INVESTMENTS: WHAT’S BETTER?
PIEs vs Direct Investments: What’s better? First, let’s check out our high points to look forward to in this read: Key Points (30 Second Read) Should you invest through a PIE managed fund or buy shares and bonds directly? The right answer depends on your tax rate, investment knowledge, and how much time you want…
Read MoreTRUST VS PARTNERSHIP VS COMPANY VS LTC FOR RENTAL PROPERTY
Note also that in the case of rental property owned by individuals, income or loss can only be unevenly distributed if this is what is on the title.
Read MoreDO FAMILY TRUSTS NEED FINANCIAL STATEMENTS IN NZ?
CLOSING A COMPANY IN NEW ZEALAND
Closing a company in New Zealand is a process that involves careful planning, legal compliance, and coordination with government authorities. Whether your decision to close stems from completing the company’s purpose, financial difficulties, or a strategic shift, understanding the necessary steps is crucial. This guide provides a detailed roadmap to help you navigate the process,…
Read MoreTHE ULTIMATE GUIDE TO BUSINESS STRUCTURES AND RECORD-KEEPING
The ultimate guide to business structures and record-keeping in New Zealand? Yes: you’ve come to the right place! Managing a business in New Zealand involves careful planning, choosing the right structure, and maintaining meticulous records. This guide explores the most common business structures in New Zealand and provides practical tips on record-keeping to ensure compliance…
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