See an Investment Property Tax Expert for the best Capital Gains Tax Advice
The New Zealand law around the ownership of Investment/Rental Property and Short-Term Holiday Home accommodation is an ever-changing environment. Being up to date with the changing environment is critical and we have an extensive background in rental property tax.
Tributum Tax Ltd takes the confusion out of Investment/Rental Property issues, and the related income tax and GST obligations that arise from your investments.
Know Your Investment Property Obligations for Tax Purposes
This is one of the most misunderstood areas around investment/rental property ownership by the average Kiwi property owner and accounting professionals alike.
We keep up to date with the latest law changes for rental property tax, particularly in relation to the bright-line test, ring-fencing losses, depreciation or lack of depreciation on buildings. The distinction between capital and revenue are so important when it comes to alterations, renovations and additions to a property – it is the difference between whether you can claim a deduction/loss against a client’s income tax or not.
For the best advice about how to treat rental property tax, tax on capital gains, rental property depreciation, or tax on rental income, talk to us – the investment property tax experts – about any investment property queries you may be having.
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Contact Shane to book in a time to discuss your needs.
GST Tax Investigations
The Department of Inland Revenue have invested in technology to transform the way anomalies are detected in a GST return and this is tracked every time you file for GST.
Once upon a time it was just seen as bad luck if you were audited for GST. This is not the case any longer. As a professional GST Consultant, we know it is more important than ever to get your GST returns right.
GST Penalties
Inland Revenue may charge you penalties if you file late or underpay your GST. We take the approach of getting our GST advice correct at the outset to avoid situations where you may be charged penalties.
GST and Covid 19
The government is also aware of the impact of Covid-19 on businesses, see other information here on Covid-19 Tax Relief.