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LATEST NEWS

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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Changes to the sale of property

September 17, 2015

In the 2015 Budget, the Government announced changes to the taxation of property. There was a lot of comment about taxing gains on the sale of property within two years of purchase. However, there are additional changes that people should be aware of. The Taxation (Land Information and Offshore Persons Information) Bill split into the […]

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