Property Accountants

Tax and legal professionals generally see what’s going on in the property and business landscape before it makes headlines. Our clients—property investors and businesspeople—provide us with front-row seats to what’s unfolding in the market. And I must say at time of writing in February 2024, it's not the best out there for many businesses and property sector people. Sales ... Continue reading 

There always seem to be people with a complete lack of integrity trying to scam the rest of us out of our hard-earned money or steal our private information (like passwords). Below is a copy of the latest scam I received. The email appears to be from the IRD, and of course has a “Login” link they are trying to ... Continue reading 

Background   Over 80% of start-up businesses fail in the first five years. One of the tasks accountants in public practice deal with is assisting clients when this occurs. Liquidation is the insolvency process related to companies and formally deals with those going through this stressful process. Liquidators are appointed and take control of the company and, if appropriate, ... 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 

In January, GRA’s Professional Trustee team wrote a blog on the new requirements trusts must meet when filing their tax returns. In this article, I go into a little more detail about the financial information that must be disclosed to the IRD.But first, why have these new rules been introduced at all? The main reason is because of the new ... Continue reading 

Over the last year we have noticed that a lot of clients are choosing cryptocurrency as an alternative for their investment strategies.  Anthony Strevens discussed the tax implications around cryptoassets in his November 2020 blog, so I won’t go into much detail here.  As a summary: the profit is taxable and the losses are deductible if you purchase cryptoassets ... Continue reading 

It’s that time of year when businesses look to reward their staff and clients by hosting Christmas parties, giving gifts, and paying bonuses.Some of these costs may be fully deductible, some may be 50% tax deductible, and others subject to Fringe Benefit Tax (FBT) or PAYE deductions. To help your business stay on the right side of the Christmas ... Continue reading 

As property tax and structuring specialists, one of the most common questions we encounter at GRA is whether to set up a look-through company (LTC) to hold investment property. The answer, more often than not, has shifted over the years to no. LTCs, once considered a go-to option for property investors, have seen their appeal diminish significantly in recent years. ... Continue reading 

30 July 2019 was an important milestone in the land of trusts. That was the date the Trust Act 2019 became law in New Zealand.  One of the objectives of this new law is to provide for greater transparency and accountability by trustees to beneficiaries. This objective is underpinned by trustee duties now being codified. Whilst it may seem an ... Continue reading 

The next few months could see a shock to some Kiwi households’ budgets, as around 60% of existing mortgages are having their fixed rates expire within 12 months. Interest rate increasesThis time last year, a large number of borrowers were fixing on the 12-month rate because this had proven to be the way to go over a cycle where interest ... Continue reading 

If you are in business, have debt, or need to work to earn an income, you probably already know it’s a good idea to have risk nsurance (health, life, trauma, income protection etc.). What you possibly don’t know, is that you are likely entitled to claim for more things than you realise. But unless your broker points this out, ... Continue reading