Posts Tagged ‘trickyquestions’
THE DANGERS OF USING AI TO DO YOUR TAX RETURN
The dangers of using AI to do your tax return? What dangers? Well…. We all know that artificial intelligence has become remarkably accessible. Today, anyone can ask ChatGPT, Gemini, Copilot, Claude, or another AI tool a tax question and receive an instant answer that appears authoritative and well researched. That convenience creates a real danger.…
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 MoreARE RENTAL PROPERTY LEGAL FEES TAX-DEDUCTIBLE?
Are rental property legal fees tax-deductible? It’s something that rental property owners ask from time to time, and it regularly comes up when we are preparing annual accounts. 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…
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. An example might be where you sold your property, perhaps a holiday home. It is caught by the Brightline Test (currently 2 years) and so the profit from the sale is taxable. You incurred some “holding costs”…
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 MoreDEPRECIATION CLAWBACK AND YOUR RENTAL PROPERTY
When a property is sold, ideally you should get a proper valuation done (see here for more info). Work out the difference between their current value and their book value and that will give you the figure that is either clawed back or deducted
Read MoreDeFi & CRYPTO TAX IN NZ: IRD UPDATED GUIDANCE
DeFi & Crypto tax in NZ: IRD updated guidance. Updated guidance? Yes. Inland Revenue released an issues paper in February 2026 setting out its initial thinking on how DeFi transactions are taxed — including wrapping, bridging, lending, borrowing, and staking. After that, the Government went a step further and thus this blog article has been…
Read MoreCAN YOU RENT INVESTMENT PROPERTY TO YOUR FAMILY?
Can you rent investment property to your family? Helping a child save for a house deposit. Supporting elderly parents. Giving a sibling an affordable place to live. These are all common reasons why property owners consider renting a residential investment property to a family member. At first glance, it seems like a win-win arrangement. Your…
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. New…
Read MoreFAMILY 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 work,…
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