There’s generally no GST on residential properties in New Zealand . But there are circumstances when a taxpayer buying and selling residential properties can be liable for GST. To be liable for GST registration, and therefore liable for GST on…
Rental properties in New Zealand
If you own rental properties in New Zealand you need to know what you can and can’t claim. Expenses you can claim rates and insurance. interest paid on money borrowed to finance your property. agent’s fees and commission – relating to…
Sale of company business – tax implications
Some time ago I dealt with a case typical of poor business tax planning. I’ve changed the figures and details to preserve confidentiality, but the income tax issue I highlight is real – and common. My clients, a middle aged…
Interest on your business loan – is it deductible?
If you’re in business in New Zealand and you borrow money, the interest you pay to the bank is deductible for income tax – right? Well, maybe it is, but there are plenty of traps to avoid. One is on-lending…