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IRD cracking down on property sales
While New Zealand does not have a comprehensive capital gains tax, we do have a capital gains tax in relation to property known as the bright-line test.
Changes to Property Tax Exemptions slipped in latest Tax Bill
The Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill was introduced to Parliament on 4 June. The Honourable Stuart Nash said this legislation was to “support growth and assist businesses on the road to economic recovery.
Impact of COVID-19 on Residential Tenancies
Whether you are a tenant or a landlord of a residential property, it is important you know your rights and obligations during the COVID-19 Alert Level restrictions.
Property Transactions at Level 3
Whether you are in the middle of a residential property transaction or have just entered into a sale and purchase agreement, your transaction is likely to be impacted by the COVID-19 Alert Level restrictions.
How to Divide Joint Assets
Contracting Out Agreements (commonly known as pre-nuptial agreements) Being in national lockdown in response to COVID-19 is a difficult time for everyone. Many couples will find it puts pressure on their relationship.
Confusion still reigns over Capital Gains
With no comprehensive capital gains tax to be implemented and letters from armchair experts filling the local papers, it is timely to familiarise ourselves with the current laws in relation to capital gains on the sale of land.