Posts Tagged ‘law changes’
NZ 2024 TAX CHANGES: WHAT YOU NEED TO KNOW
NZ 2024 Tax Changes: What You Need To Know NZ 2024 tax changes: what you need to know. As New Zealand gets into the new financial year (which started on April 1, 2024) significant tax changes took effect/are set to take effect. These updates will impact individuals, trusts, and property owners, reflecting the government’s aim…
Read MoreNAVIGATING THE CRYPTO LANDSCAPE: HOLDING, STAKING AND TRADING
Navigating the crypto landscape: Holding, staking and trading; it can appear quite daunting! Cryptocurrency has taken the financial world by storm, offering innovative ways to invest, earn passive income, and trade digital assets. In New Zealand, as elsewhere, navigating the world of crypto can be both thrilling and daunting. Thus, in this comprehensive guide, we’ll…
Read MoreNEW TAX RATES IN NZ
…additionally, the government have increased the trustee tax rate from 33% to 39% from 1 April 2024.
Read MoreRENTAL PROPERTY ACCOUNTANT AUCKLAND
What may have been applicable last year could be completely different today. For landlords, staying abreast of these changes is not just advisable—it’s essential.
Read MoreGOVERNMENT RENTAL PROPERTY TAX CHANGES 2021
SUMMARY OF CHANGES Changes announced January 2021 by the government: Note that this law was very much “being made up as they go along” so at the time of announcement, lots of things were unknown, or not decided on. Subsequently, IRD have clarified most questions and rewritten some poorly-worded tax law. HOW DOES THIS AFFECT…
Read MoreCOVID-19 STRATEGIES FOR PROPERTY INVESTORS AND BUSINESSES
You might also want to look at a mortgage holiday. Be aware that this will increase the loan,^ but it will buy you some time, so in the big picture, may be worth it.
Read MoreCOVID-19 BUSINESS & TAX SUPPORT
If you are unable to pay this tax on time because of the effect of COVID-19 on your business, IRD expect that you will pay this tax as soon as practicable. In such cases our recommendation is that you contact IRD now to let them know you can’t pay the tax on time and negotiate a payment plan.
Read MoreLOAN/ MORTGAGE OPTIONS COVID-19
It’s not really a “holiday”, but rather a “payment deferral.” How does it work? While you don’t have to make payments during the mortgage holiday, you still get charged interest. What’s that going to cost? Well, it could be significant.
Read MoreLOAN/ MORTGAGE OPTIONS COVID-19
What are your options for managing your loan or mortgage during the COVID-19 outbreak? RESTRUCTURE / renegotiate Depending on when you last fixed your loans, you may be able to get a lower rate now. Look into what the bank’s break fee would be (break fees are deductible on rental properties); chat to your mortgage advisor if the bank isn’t playing ball. Or if they are being greedy at a difficult time.You might also be able to push the loan term out e.g. from 25 years to 30 y […]
Read MoreTRUST LAW CHANGES NEW ZEALAND
Trustees will now have some mandatory duties to fulfill
Trustees must disclose certain information to all the beneficiaries – no more opacity!
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