Articles by John Heaslip
Hopefully the “post-Covid” reference in the title is not tempting fate, but at the time of writing New Zealand appears to be in an enviable position in terms of control of the public health side of the Covid pandemic. However, battling through the economic fallout is going to be just as challenging.
All readers will be aware of the government taking multiple actions across multiple different platforms to assist the public and employers as they work through the financial fallout. So I thought it would be useful to summarise some of the key tax measures that have been instituted in the past three months.
While the above concessions are all welcomed, in our view the IRD could have gone further. We would like to have seen them defer the implementation of the ring-fencing rules until the current income year has finished. Consideration should also have been given to an exemption from the application of the bright-line rule where one is forced to sell a property due to financial difficulties caused by Covid. That said, given the government’s antipathy to property investors we can’t say we are surprised that such measures were not taken. An additional measure that would be welcomed by tourism affected people, would be tax concessions to spread redundancy payments across multi-tax years. There have been murmurings of this in the wind, but nothing yet.
To whom it may concern: The Corporate Trustee team at Gilligan Rowe and Associates have been our Professional Trustee for our family trust and trading trust since May 2005. From the initial advice during the designing and creation of our trust structures through to the day to day operation of the entities, the support and guidance we have had from the Corporate Trustee team has been second to none. As a business owner and operator, I need to have reliable, efficient, proactive and knowledgeable people as part of our business team and Gilligan Rowe and Associates Trustee services tick the boxes in all of these criteria. I have no hesitation in commending and recommending Gilligan Rowe and Associates Trustee Services team to anyone who requires professional and competent guidance in the safe operation of their trust and in turn secure protection of their assets. - RNT
If you're investing in residential property, seeking to maximise your ability to succeed and minimise risk, then this is a 'must read'.
Matthew Gilligan provides a fresh look at residential property investment from an experienced investor’s viewpoint. Written in easy to understand language and including many case studies, Matthew explains the ins and outs of successful property investment.