Posts Tagged ‘taxes’
WHAT TRUST TAX CHANGES MEAN FOR MY FAMILY
What trust tax changes mean for my family: 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 business…
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 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 might not actually get you the most tax-efficient outcome. To introduce this, firstly let’s point out the obvious: Investing globally offers New Zealand investors the opportunity to diversify their portfolios and tap into international…
Read MoreWHAT DOES TAX-DEDUCTIBLE MEAN?
What does tax-deductible mean? Why does it matter? Understanding tax deductions is essential for effective financial management, especially for property owners and investors. A tax deduction allows you to subtract certain expenses from your taxable income, thereby reducing the amount of tax you owe. But: It’s important to note that a tax-deductible expense doesn’t equate…
Read MoreNZ 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 MoreNEW TAX RATES IN NZ
…additionally, the government have increased the trustee tax rate from 33% to 39% from 1 April 2024.
Read MoreTAX ON AIRBNB INCOME NZ
TAX ON AIRBNB INCOME NZ: Is my Airbnb income taxable? Is there tax on airbnb income in NZ? Yes. Income earned from providing short-stay accommodation is taxable
Read MoreCAN MY LTC BUY ME A COMPANY CAR? WILL I HAVE TO PAY FBT?
CAN MY LTC BUY ME A COMPANY CAR? WILL I HAVE TO PAY FBT? es. However, note that Fringe Benefit Tax (FBT) may apply, depending on the situation.
Read MoreHOW DO I KNOW IF I’VE GOT NON-RESIDENT TAX STATUS (NZ)?
HOW DO I KNOW IF I’VE GOT NON-RESIDENT TAX STATUS (NZ)? How do you know if you have non-resident tax status in New Zealand? Some of our clients live and/or work overseas, and have asked us about non-residency status with regards to tax.
Read MoreGST & RENTAL PROPERTIES
For GST-registered buyers, buying a property off a GST-registered seller means that the sale is zero-rated for GST i.e. none is paid by the seller and none claimed by the buyer.
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