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Kelvin Davidson: There’s never a dull moment in the property market

Over the past month the property market has remained at the forefront of news headlines, so here’s an important reminder of recent key points: Property values are still rising rapidly – in May they were more than 20% higher than a year ago (on the CoreLogic House Price Index) However, there are hints that sales volumes are starting to cool, due to previous measures s...
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{{name}} - APIA Auckland Property Investors

Kelvin Davidson: Our ‘top down’ perspective on the Government’s investor tax policy changes

It’s an understatement to suggest that the content of the Government’s housing policy announcement on 23rd March was a surprise to most. In reality, it was a major surprise to all. However, now that the dust has settled a bit, our perception is that the changes won’t have as much impact as first thought. Sure, some landlords will look to sell properties and/or raise rents sharply, but...
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{{name}} - APIA Auckland Property Investors

Brightline application for 'private transfer' of inherited properties

This week's question comes from Irene B and the answer is kindly provided by Amanda Watt of Shortland Chartered Accountants. The answer is intended to be for general information only and not tax advice. We inherited a residential property which was also in a Company ( we inherited the company). After a time we sold this property from the company to a trust. The only two directors of...
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{{name}} - APIA Auckland Property Investors

Is GST payable on all the properties held by a trading entity?

This week's question comes from long-time APIA member Mary M and the answer is kindly provided by Amanda Watt of Shortland Chartered Accountants. The answer is intended to be for general information only and not tax advice. We have a GST registered property entity set up initially for trading. If that entity is holding more than one property and not all of them are for trading, do we...
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{{name}} - APIA Auckland Property Investors

Peter Lewis: What can you deduct?

Given the ongoing publicity and often heated discussions, all landlords should by now know that there are a number of mandatory upgrades and enhancements that will be required for all residential rental properties over the next few years. We have already passed the date when it became compulsory to install smoke alarms in all such properties, and we are very near the time...
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{{name}} - APIA Auckland Property Investors

Is remedial insulation deductible?

This week's question comes from Ron (paraphrased): What is the tax treatment for remedial insulation on a rental property where existing insulation is going to be topped up (i.e. part repair part improvement)? Mark Withers from Withers Tsang kindly responds below: The government has not assisted the push for better insulation of Kiwi homes by failing to clarify the capital/revenu...
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{{name}} - APIA Auckland Property Investors

Ring-fencing submission FAQs

Some frequently asked questions prompted by our latest call for all investor to put in their submission for the proposed law change to ring-fence rental tax losses are worth sharing. Before we delve in, a reminder that this Thursday is the last day to make a submission to or against ring-fencing tax losses. This is too important an issue for investors to stay silent on. Submission de...
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{{name}} - APIA Auckland Property Investors

The Government wants to ring-fence rental losses. What can you do about it?

Make a submission of course! Let's be clear. At the time of this piece, ring-fencing is not a done deal. There is still time to push back and affect the Government's legislative agenda. Submission on this issue closes 28th February 2019. It is our opinion that, in its present form, the proposal will have far-reaching consequences many of which are unfavourable to investors, their tenants...
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{{name}} - APIA Auckland Property Investors

Amanda Watt: Removal of negative gearing

I have delayed writing about the removal of the negative gearing, so I could spend more time thinking about what it will mean for property investors. The Government’s issues paper addressing negative gearing came out earlier this year and asked for submissions. Both the NZPIF and APIA made submissions on behalf of members. The proposal outlined in the issues paper is that negative ...
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{{name}} - APIA Auckland Property Investors

Peter Lewis: Property and tax

A reply to those who claim investors have a tax advantage by APIA Vice President Peter Lewis: Consider the analogy of a Motel owner verses a Residential Landlord. The Motel owner rents accommodation by the night. The Landlord rents accommodation by the month or by the year. The Motel owner is in business. As such, he is required to pay income tax on any profit (his ren...
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