Posts Tagged ‘tax’
TRUST VS LTC FOR RESIDENTIAL INVESTMENT PROPERTY
Trust vs LTC for residential investment property – which is better?
Well, it depends if the property is negatively or positively geared, i.e., does it make a loss or a profit.
Read MoreDEPRECIATION AND CHATTELS: WHAT TO DO?
Depreciation and Chattels: What to do? We here present answers to some common FAQs on the subject of Depreciation, provided by Valuit. Q. We are going to get a chattels apportionment completed but do we need to have it done by a certain date?A. The simple answer is “usually no.” Depreciation reports are always best completed…
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 MoreWHAT’S THE PROCESS FOR MY TAX RETURNS?
Here are the main steps involved in your tax return preparation
Read MorePROVISIONAL TAX CHANGES
PROVISIONAL TAX CHANGES From the 2018 income year (that is, 1 April 2017 onwards), the safe harbour threshold has been increased! Hooray, I hear you say. It’s gone from $50,000 to $60,000. It has also been extended to non-individual taxpayers e.g. companies. What does this mean? Use of Money Interest (UOMI) will only be payable…
Read MoreIRD REQUEST FOR MORE INFORMATION
IRD request for more information: no one wants to receive one of those letters. But what do they look like and what do they mean? Here are two useful pages to get a clear picture on IRD Requests for More Information. WHEN THE IRD WANTS MORE INFO! This article explains that the Inland Revenue Department…
Read MoreWHEN THE IRD WANTS MORE INFO!
When the IRD wants more info… what do you do? This year (2016) we’ve seen a dramatic increase in requests for information from IRD, generally, letters where they want a more detailed breakdown of expenses. We’ve also seen some more “direct” methods employed. What is this all about? FOCUS ON PROPERTY This year, as in…
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 MoreHOW IS FOREIGN-SOURCED INCOME TREATED IN SINGAPORE?
How is foreign-sourced income treated in Singapore? That’s a great question. Let’s say that you live and work in Singapore. You own a rental property here in New Zealand. How do you handle this from a tax perspective here in New Zealand, and in Singapore? Does it make a difference if the property is negatively or…
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