Posts Tagged ‘investors’
WHAT IS AUDIT SHIELD INSURANCE?
WHAT IS AUDIT SHIELD INSURANCE? It’s an insurance to pay your accounting and legal costs if IRD start asking questions
Read MoreIS NOW A GOOD TIME TO BUY A RENTAL PROPERTY?
Are you thinking about buying a rental property but not sure if now is the right time to dive in? There’s nothing like a worldwide pandemic to give you wobbly legs at the thought of making a big financial investment! It may seem like a precarious time to buy a rental property due to Covid-19 and political uncertainty around landlord requirements. However, there are other drivers which may indicate that it is a good time to enter the property market or expand your portfolio.&nbs […]
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 MoreWHAT BUSINESS EXPENSES ARE TAX-DEDUCTIBLE?
What business expenses can you deduct in your income tax return? It depends on your business structure, but includes things such as:ACC leviesaccounting feesbank chargescontractor costsdepreciation (wear and tear)entertainment (be careful!)home office expenseslease or rental costslegal feesmotor vehicle expenses e.g. WOF, registration, repairs, insurance, FBTpurchases (for business purposes e.g. stock, materials)travel e.g. fuel, parking, business travelstationery, printing and office costs […]
Read MoreRING FENCING OF PROPERTY LOSSES
Ring fencing of property losses is here to stay. What will be the impact, and what strategies should you employ? How will it affect you? Will you still get a tax refund?
Read MoreRING-FENCING RENTAL PROPERTY LOSSES: PART 2
There are various rules (outlined above) which limit what you can claim from these kind of assets, and you have to be careful if you think your gross annual income will be more than 60k (GST registration)…
Read MoreCRYPTOCURRENCIES: IRD TAX TREATMENT; FRAUD WARNINGS
We believe that if you hold (or “hodl”) crypto and stake it in order to earn crypto-rewards (usually more crypto), then the crypto itself functions much like a term deposit.
Read MoreRING-FENCING RENTAL PROPERTY LOSSES: PART 1
RING-FENCING RENTAL PROPERTY LOSSES: PART 1. IRD released a proposal to ring-fence rental property losses. What does that mean for you?
Read MoreWHY 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 MoreWHO NEEDS A FINANCIAL ADVISOR?
Who needs a Financial Advisor?* Do you? Well, you might be thinking “I need a lawyer… and an accountant. But do I need a Financial Adviser?” Like many people (most, in fact) you probably feel that a Financial Adviser is a bit of an optional extra. We strongly feel that this is not sound thinking.…
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