Property Accounting

Holiday Home And Short-Term Rental Taxes

Renting out your home, rental property or holiday home for a short-term period can be a great way to make some extra income when you’re not personally using those properties but don’t want to lock in long-term renters. Airbnb, Bookabach and other online accommodation companies make it extremely easy to list your property as they

2019-05-06T12:05:23+00:00May 6th, 2019|Property Accounting, Tax|

Rental Properties: Which Expenses Can You Claim?

If you own a rental property or are looking to invest in one, it’s worth understanding the different rental property expenses you may be able to claim to help lower your tax burden. Rental Property Expenses Which Are Tax Deductible Legal fees incurred during the process of purchasing the property. Accounting fees for the ongoing

2019-03-12T09:24:30+00:00March 12th, 2019|Property Accounting|

The Bright-line Test: Main Home Exclusion

Earlier this year the bright-line residential property rule was extended from two years to five years. The original two-year period still applies to properties purchased between 1st October 2015 and 28th March 2018, and from 29th March 2018 onwards the five-year bright-line test now applies. There are three main exclusions to the bright-line test: Family

2018-10-30T11:13:54+00:00October 30th, 2018|Property Accounting, Tax|

Ring-fencing: Promise Punishes Landlords

UHY Haines Norton’s Managing Director Grant Brownlee explains how the proposed ring-fencing of residential rental losses will impact residential property investors. The recently proposed ring-fencing of rental losses rule change is the result of a politically expedient election promise that blamed residential investors and speculators for house price inflation. The Government should be transparent about

2018-06-11T11:25:45+00:00June 11th, 2018|Property Accounting|

Changes To The Bright-line Property Test

If you are planning to buy or sell residential property, you need to be aware of the recent extension to the bright-line property rule that was introduced on 29th March 2018. From 29th March onwards, anyone who buys a residential property and then sells that property within five years of purchasing it must pay income

2018-05-02T11:07:43+00:00May 2nd, 2018|Property Accounting|

Will Capital Gains Tax Dampen Property Speculation?

With the introduction – and proposed extension – of capital gains tax on residential property in New Zealand, we asked UHY Haines Norton’s Managing Director and Property Accounting specialist Grant Brownlee what the potential impacts of capital gains tax may be on the country’s property market. Capital gains tax applies to the sale of property

2018-02-28T08:01:59+00:00February 22nd, 2018|Property Accounting|

Global Real Estate Guide 2017

International accounting network UHY has released its 2017 “Global Real Estate Guide”. As the world becomes more globalised, many investors, both corporate and private, are looking for international opportunities. Investors need to effectively navigate the rules and regulations of the country where the property is situated. Just like with other major investments, it is essential

2017-11-01T09:59:10+00:00November 1st, 2017|Property Accounting|

The Bright-line Test in Practice

Back in October 2015, the IRD introduced the bright-line test for taxing the sales of residential properties. While the concept of taxing residential properties sold within two years of acquisition is straightforward, in reality there are often a number of factors to consider. Here we provide some examples to illustrate the bright-line test in practice.

2017-10-26T09:33:52+00:00October 26th, 2017|Property Accounting|

Property Accounting: Subdividing Your Home

UHY Haines Norton’s Managing Director Grant Brownlee explains how seeking expert advice when planning to subdivide your property can make a big difference to the outcome. I met with a young couple who were considering their options around developing their family home property into four lots. They were living in a two-bedroom house on the

2017-09-22T12:45:11+00:00September 22nd, 2017|Property Accounting|

Why Your Money Is Worth Nothing

Imagine you are sitting around the kitchen table playing Monopoly with your siblings and then the excitement you feel when Mum, who very rarely plays, agrees to play too. You are only a short time into the game when Mum goes bankrupt. All of the players are bitterly disappointed that the game ended so soon,

2017-09-21T13:13:52+00:00September 21st, 2017|Property Accounting|