The ‘Money’ Category

The property investment sector has been getting a hard time lately. In particular, criticism has been directed towards it by various groups reviewing or critiquing the tax system. Much has been made of the fact that, despite being an industry worth $200 billion, residential rental property owners have nonetheless recorded tax losses of $500 million.

An average of 32,000 new members have joined Kiwisaver each month in the last year. That’s an impressive growth rate of 54% over the last 12 months, exceeding most peoples expectations. At current growth rates by 2015 (in just five years) Kiwisaver funds under management are predicted to have reached the same level as retail funds, however there is still plenty of room for growth

When selling your practice, it is not the most desirable time for practice owners to demonstrate their “Kiwi DIY” ability. For many they are selling their second most valuable asset beside their home. You wouldn’t attempt to sell your home without professional advice, so why would you sell your business without professional advice from both your chartered accountant and lawyer?

Not only are rents likely to increase, but there could be wide reaching ramifications for the entire housing market should a capital gains tax be introduced on rental investments.

With much debate already in Parliament about a capital gains tax, it’s only a matter of time before some form of tax on property is introduced.

With the festive season now upon us we are all fully immersed in Christmas parties, gifts and entertainment. While not wishing to dampen the Christmas spirit, the tax consequences of festive spending should not be forgotten.

Festive expenses fall into three categories when it comes to tax. Understanding the impositions at each tier will help you avoid any unexpected New Year surprises.

The much anticipated Transitions’ ‘Live Your Vision with Business Insights’ went off without a glitch. A live feed of the presentation, which took place at the Sydney Marriott Hotel, was broadcast to breakfast sessions on the eastern seaboard of Australia and delayed to other cities because of the time difference, whilst in New Zealand, practices were able to tune in at 9.30am.

ACC represents one of three major components of our social security system. However it is despised by those paying seemingly higher and higher levies and has become a source of frustration for claimants trying to get support and rehabilitation.