Articles

The Government has announced details of proposed legislation that will allow holders of the Active Investor Plus (AIP) visa to purchase (or build) residential property worth $5 million or more.

Legislation proposes that investors’ ability to deduct interest in relation to properties acquired before 27 March 2021, will be phased out

The discussion document is comprehensive & addresses a number of areas that will be impacted by the interest limitation & bright-line rules

Changes to the bright-line test mean properties acquired and then sold within 5 or 10 years, are taxed on the gain.

If you are planning to buy or sell a business this year, you need to be aware of the new purchase price allocation rules.

The new bright-line test extends the bright-line period to 10 years for any existing property acquired on or after 27 March 2021.

The Government has announced tax reforms which are attempting to grapple with the housing crisis.

While New Zealand does not have a comprehensive capital gains tax, we do have a tax in relation to property known as the bright-line test.

Owners of residential rental properties are required to meet certain minimum standards.

Buying and selling property in New Zealand is common. What is less commonly known are the tax implications of these transactions.