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LATEST NEWS

Tax update – Simplification of taxes, Foreign Trusts & Automatic Exchange of Information

August 14, 2016

The Government introduced the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill (149-1) into Parliament on 8 August 2016. The aim of this legislation is to simplify tax processes, reduce compliance costs for smaller businesses, tighten foreign trust disclosure rules and ensure NZ meets its international obligations in respect of automatic exchange of information. […]

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Auckland Unitary Plans

August 1, 2016

What is the Unitary Plan? It is the blueprint for Auckland’s future development, and it’s the result of over five years of work. The Unitary Plan aims to provide a single set of rules to manage how Auckland’s housing and infrastructure develops over the coming decades.  It’s the biggest single planning change in Auckland’s history. The […]

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What do the New Lending Rules mean?

July 19, 2016

  The New Lending Rules: As of 1st September the Reserve bank has put in place new LVR (loan to value ratios) requirements for lending to both investors and homeowners. The changes are nationwide and are aimed at minimising the financial stability risks to our economy arising from the growing pressure in the housing market. […]

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Frequently Asked Questions About Family Trusts

July 12, 2016

Frequently Asked Questions About Family Trusts Q. If I transfer my house into a family trust will I lose control of what happens to it? A. Your family trust will be owned and managed by trustees who must act together in their decision-making. You can be a trustee of your own family trust. If you do […]

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OCR rate unchanged, what does this mean for home owners?

June 9, 2016

Yesterday the Reserve Bank kept the OCR interest rate unchanged at 2.25% which means home owners will continue to benefit from historically low interest rates – in particular 1 year, 2 year, and 3 year fixed rates are most competitive at this point in time, and Haven Mortgages is currently negotiating a 3 year fixed […]

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The taxing of Foreign Trusts

April 6, 2016

by Melanie Bennett In light of the recent release of the “Panama Papers”, people are asking how foreign Trust rules work. The New Zealand tax regime works by taxing individuals, companies, and Trusts based on tax residency. If they are a tax resident in New Zealand they are taxable on their worldwide income. If they […]

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What’s happening in the property market?

March 1, 2016

While the press is predominately obsessed with housing in our largest city, property prices are heating up in other areas of New Zealand, and a recent New Zealand Herald article discusses the demand for housing in Tauranga and the fact many people in the Bay area are breaking their fixed term contracts to refinance, and take advantage of […]

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Property Tax Update

November 16, 2015

The tax rules taxing the gain on the sale of property passed its third reading on 12 November and is waiting its Royal Assent. The legislation will require income tax to be paid on any gains from residential property purchased on or after 1 October 2015 and sold within two years. The exceptions are an […]

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