Property Accountants

One 14 March 2024, the government released draft legislation coming good on its promise to reduce the bright-line period to two years and repeal the interest limitation rules. The highlights are as follows:Bright-lineA two-year bright-line period will apply to all property where sale occurs on or after 1 July 2024.  The date that you enter into the agreement to ... Continue reading 

I’m often asked, “What do you look for when buying properties?”Here are some of my tips.Know your strategyWork out your property strategy based on your long-term goals and your household situation. For example, are you looking to build a buy-to-hold portfolio that will provide cashflow from rental income? Are you an experienced investor looking to develop and build houses? ... Continue reading 

Almost a year to the day since the Government announced rules to eliminate tax deductions on interest for property investors, the legislation has all but reached its final destination. In the last two weeks the Select Committee report on the first draft of the legislation has been released and amendments have been made to the first draft reflecting these ... Continue reading 

The tax rules relating to cryptocurrency have been long been an area of confusion due to the fact that the nature of cryptocurrencies means they don’t fit neatly into any current tax laws. Now, however, IRD have confirmed their view on a variety of issues in relation to this. The IRD use the term “cryptoassets” which covers more than just ... Continue reading 

There is a significant misinterpretation and misunderstanding between the role of a bookkeeper and that of an accountant. If you don’t know the difference it can negatively impact upon you (possibly seriously). But if you understand each role and utilise them appropriately, it can be very helpful for your business. Mistaking a bookkeeper for an accountant can lead to ... Continue reading 

At GRA we have seen an increasing number of clients come to us after being advised to wind up their trust, or after being discouraged from setting one up at all, having been told that trusts don’t really provide any significant advantages.The reasoning is often straightforward: trusts generally don't provide the tax advantages they once did, and the ongoing ... Continue reading 

A Guide to the Revenue Account Method (RAM)If you're a new migrant to New Zealand, a Kiwi returning home after a long time away, or someone who pays tax in two countries, you've likely encountered New Zealand's complex Foreign Investment Fund (FIF) rules. These rules are designed to tax New Zealand residents on their offshore equity / share investments ... Continue reading 

Many New Zealanders still retain memories of Black Tuesday – the day the share market collapsed in 1987. The crash began in Hong Kong, spread to Europe, moved into the United States and then headed Australia and New Zealand's way.  By the end of Tuesday 20 October 1987, the stock market had shed a vast amount of value and ... Continue reading 

For a while it appeared that the introduction of the 60% LVR rule for investors would make the property market easier for first home buyers. However, as per this article in the Herald and these statistics from the Reserve Bank, first home buyers are finding it difficult as well.The 60% LVR rules have certainly made it much harder for ... Continue reading 

Choosing the right real estate agent can make a big difference to your selling experience, and to your bottom line. A knowledgeable real estate agent can make you a lot of money. On the other hand, if you don't have a good agent, you can unnecessarily lose a lot of money. I am frustrated to have heard stories about ... Continue reading