Property Accountants

With interest rates showing signs of decline, investor interest in the property market may be on the rise. As lending rates fall, the cost of owning a home often becomes more competitive with renting, a trend that could drive a shift in New Zealand’s housing landscape towards more homes being purchased for rental investment and home ownership. Notably, for much ... Continue reading 

Over the last few years, landlords have faced a number of challenges that impact their ability to properly maintain their rental properties and meet their financial obligations. Like any other business owner, as a property investor it’s important that you adapt to market changes and keep a close eye on your outgoings versus your income.  In this blog, I ... Continue reading 

Prior to the inception of the bright-line rule, it was relatively common practice to restructure the ownership of residential property to get better asset protection, estate planning and tax outcomes, or when circumstances changed. For example, you might convert an existing home to being a rental, or own a holiday home personally that you want to be protected in ... Continue reading 

The IRD have recently announced ways in which they can provide some relief for those hit by the recent adverse weather events. Although these measures are not new, it is useful to know about them and to be aware the IRD will actively consider application to those affected.Removing Penalties and InterestThe IRD charges penalties on late filing and late ... Continue reading 

As you are probably already aware, trusts now have more reporting requirements with the IRD. However, in some circumstances, trusts, especially family trusts, may have been made non-active with the IRD, which means there is no income to report (and no tax to pay). Although a trust may not generate any income, and therefore may not be required to file ... Continue reading 

Are you interested in investing in property but find yourself locked out due to the high buy-in costs or the recent debt-to-income (DTI) restrictions?  Joint ownership of property may be a path worth exploring to get in the game and ensure you don’t miss out on the next growth cycle. This approach can leverage the collective purchasing power of ... Continue reading 

Main Home Exemption and Residential Exclusion - understanding IRD's stance on frequent disposals of family homesSelling your home is often one of the most significant financial transactions an individual undertakes. Fortunately, New Zealand tax law provides valuable exemptions which can shield profits from tax – primarily the main home exclusion to the bright-line test and the ‘residential exclusion’ to other ... 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 

As an insurance adviser and a property investor, I’ve often felt like a circus performer, juggling every dollar amidst soaring interest rates. Life's unpredictability remains the one constant through it all.The ACC Reality CheckMany perceive the Accident Compensation Corporation (ACC) as a beacon. However, contrary to popular belief, it's not the all-encompassing safety net that it appears to be. ... Continue reading