Articles by John Rowe
At last some good news out of Inland Revenue.
Fringe Benefit Tax (FBT)
The FBT rate for low-interest loans will fall from 8.05% to 6.41% from 1 July 2009.
This has come about due to the continuing effort to try and align the rate with the variable first mortgage housing rate. Bluntly it was not fair to have the FBT rate above that being charged by the Banks.
Use of Money Interest (UOMI)
Use-of-money interest rates charged by the Inland Revenue on unpaid tax have been lowered from 9.73% to 8.91%. The interest rate paid on overpayments of tax paid reduce from 4.23% to 1.82%. Regretfully, there still remains a large gap between the two.
Please contact us if you would like help to understand how these changes affect you personally and your business - if applicable.
I would like to say thank you for the opportunity for allowing me to come to the property school at Gilligan Rowe + Associates. Im in my early stages of becoming a property investor in New Zealand and to able to come to the property school has enabled to me gain very valuable information and knowledge which will help me be successful in property investing. The property school itself is one like no other because there is so much value given and from experts that practise what they are teaching. This in property school was one of the main highlights because being able to meet experts through the property school was my first time and gave me more confidence in general about property investment. Having combined reading the books (Property 101, Tax structures 101) at home and attending property school, the breath of valuable information and knowledge I have attained is substantial. - Tesfalidet, December 2019
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