Property Accountants NZ Limited is started by a CPA credited Accounting and Advisory firm - Kinghans Limited.
We provide business advice, property advise and all the latest news/updates including tax news related to all properties in NZ. We can assist you at all levels of property advisory and accounting.
With property prices soaring in the country and people investing more in New Zealand thanks to Covid - it is quite difficult to get the latest updates on what’s happening in the system and to know when the best time is to invest/sell a property.
Property Accountants NZ Limited is a subsidiary of Kinghans Limited, a CPA credited Accounting and Advisory firm.
We provide business advice, property advice and all the latest news/updates including tax news related to all properties in NZ. We can assist you at all levels of property advisory and accounting.
Stay up to date with our latest blogs on new law changes and property news.
The new ring-fencing rules apply to residential land - mainly residential rental properties. This includes overseas property held by a New Zealand tax resident.
The rules generally apply no matter how the property is held. The rules apply to property owned by you or a partnership, a look-through company, a trust, or a close company.
If you have a tailored tax code and rental income, the new ring-fencing rules may affect you.
From the 2019-20 income year new ring-fencing rules apply to residential property deductions. Ring-fencing means residential property deductions can only be used to offset income from residential property. You cannot use rental losses to offset other income like salary and wages.
Under the rules, you can only claim deductions up to the amount of income you earn from the property for the year.
You must carry forward deductions over that amount. You can use these deductions to offset your rental income in future income years.
GST or Not on Airbnb? Should I be registered?
Can I Claim GST on the purchase of the property? What does it mean that the vendor is or is not GST registered?
Is there Tax on Airbnb?
Should i use a host?
Who can help me dress my property?
Contact us to arrange an appointment to discuss all these points?
Charlotte and Andrew Spenceley do not want to sell the land they bought for a new family home, but a health crisis means they have to, and they will have to pay tax on the capital gains they make because of it.
In these situations, if the homeowner isn’t looking to profit the outcome could seem to be quite harsh.
The bright-line test, which was introduced by the National Government in 2015 but extended by the Labour Government to require properties to be held first for five years and then 10 years, was intended to tax capital gains on investment properties.
We provide business advice, property advice and all the latest news/updates including tax news related to all properties in NZ. We can assist you at all levels of property advisory and accounting.
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Our Practice
We are a CPA accredited firm committed to forming close partnerships with our clients.
We take the stress out of financial planning. We'll help you manage every aspect of your business, and because we establish a one-on-one relationship with each of our clients, our advice will be tailored for your business.
