Posts Tagged ‘trickyquestions’
FAMILY TRUSTS NZ: BASIC CONCEPTS
Family trusts NZ basic concepts: Family trusts are one of the most commonly used legal structures in New Zealand—but also one of the most misunderstood. Many people hear about trusts from their lawyer or accountant and assume they provide automatic asset protection or tax advantages. Others set them up but don’t fully understand how they…
Read MoreARE RENTAL PROPERTY LEGAL FEES TAX-DEDUCTIBLE?
Rental property owners often ask one core question: are rental property legal fees tax-deductible? The answer depends on why you incurred the legal cost, not simply that you paid it. Legal fees regularly arise for landlords: They appear during disputes, lease negotiations, trust administration, and property management issues. However, Inland Revenue does not treat all…
Read MoreCAN YOU DEDUCT HOLDING COSTS ON PRIVATELY USED PROPERTY THAT IS TAXED ON SALE?
Can you deduct holding costs on privately used property that is taxed on sale? That’s a good question. Property investors focus on outcomes. Cash flow, tax, risk, and long‑term value drive decisions far more than legal theory. However, one legal issue now affects thousands of everyday investors in a very practical way: When Inland Revenue…
Read MoreNZ TRUST TAX ISSUES WHEN MOVING TO AUSTRALIA
NZ Trust tax issues when moving to Australia. Is that “a thing”? Ooooh yes. Let’s explore: New Zealand trusts are often treated as simple, stable structures. That sense of stability can quickly unravel when trustees or beneficiaries move offshore—particularly to Australia. Every year, thousands of New Zealanders relocate across the Tasman for lifestyle, family, or…
Read MoreDeFi & CRYPTO TAX IN NZ: WHAT YOU NEED TO KNOW ABOUT IRD’s NEW GUIDANCE
DeFi & Crypto tax in NZ: What you need to know about IRD’s new guidance. New guidance you say? Yes, Inland Revenue has released a new issues paper in February 2026. It applies to anyone using crypto in DeFi – including wrapping, bridging, lending, borrowing, or staking. This paper sets out IRD initial views on…
Read MoreIS SELLING YOUR HOME TAXABLE?
Is selling your home taxable? Selling your home is often one of the biggest financial events in your life. For many New Zealanders, there’s a deeply held belief that “we don’t have capital gains tax”, so any profit made when selling a house must be tax‑free. That belief is partly true – and partly dangerous. While…
Read MoreHOW DO YOU SET UP AN LTC?
Who will be the company directors?
How many directors will you have?
Who will be the shareholders?
How many shares will they own?
RESIDENTIAL PROPERTY TAX IN NEW ZEALAND: WHICH RULES APPLY (AND WHEN)?
Residential property tax in New Zealand: Which rules apply (and when)? That is the big question. If you own, rent, or occasionally use a residential property in New Zealand, your deductions and potential tax on sale depend on how you use the property in each income year. That sounds simple—until you confront overlapping frameworks like…
Read MoreTAX TRAPS IN NEW ZEALAND LAND TRANSACTIONS
Tax traps in New Zealand land transactions: is that a thing? Yes. New Zealand’s Inland Revenue Department (IRD) has significantly sharpened its tools for detecting taxable land transactions. With the integration of artificial intelligence (AI) into its systems, the IRD now has unprecedented capabilities to identify patterns, flag anomalies, and enforce tax compliance more rigorously…
Read MoreARE ASBESTOS REMOVAL COSTS TAX-DEDUCTIBLE?
Are asbestos removal costs tax-deductible? Asbestos remains one of the most persistent legacy hazards in New Zealand buildings. While its use declined sharply after the 1980s due to clear links to serious health risks, many homes, commercial buildings, and industrial structures still contain asbestos today. As these buildings age, owners frequently incur costs to test,…
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