The bright-line test came into force from October 2015, introducing rules that a profit derived on the sale of a residential property is subject to tax if sold within two years of purchase, albeit subject to some exceptions such as the family home. These rules have recently been revised to extend the bright-line period from […]
Bright-line breach warning Read More »
Labour’s pre-election manifesto proposed to increase the fairness of the tax system and improve housing affordability. In the six months since the Labour-led coalition entered Parliament, we have started to see some changes filtering through. As part of the proposals aimed at house prices, Inland Revenue has recently released an Issues Paper proposing to ring-fence
Ring-fencing rental losses Read More »
How often have you found yourself vowing to improve your health or fitness? If you are anything like the majority, chances are at some point you have embarked on some fad diet or joined the latest fitness craze in an attempt to get healthier, only to find yourself succumb to the temptation of those pesky
Health in the Workplace Read More »
Maat Consulting is pleased to advise that they are preparing a Product Disclosure Statement to raise equity for the purchase of a commercial office / retail property located at 306 Cameron Road, Tauranga. Key elements of this investment opportunity include: The offer will be made as an Equity Investment, whereby shareholders have the right to
New Equity Investment Opportunity Read More »
After work drinks A recent study found that up to one in five office workers enjoy going for a drink with co-workers at least once a month. This begs the questions as to whether after-work drinks are good for a person’s career. Although there is clearly no direct link, there can be undeniable benefits to
Snippets – Feb : Apr 2018 Read More »
There is a growing trend for businesses today, whatever their size, to move to the “cloud”. The cloud is an online platform to make data and software accessible, anytime, anywhere and from any device. Gone are the days of being chained to your desk in a small cubicle. Now, with your data in the cloud,
Advantage and Disadvantages of Cloud Accounting Read More »
The loss offset (and subvention payment) mechanism allows a ‘profit’ company to reduce its taxable income by utilising the tax losses of a ‘loss company’. The mechanism is a great tool that is commonly used. Before a loss offset can be made, the following key requirements must be satisfied: The loss company must have maintained
Loss Offsets and Subventions Read More »
The Labour coalition made immediate changes when they were elected into government, starting with repealing National’s planned tax bracket changes. Labours new ‘mini-budget’ is intended to benefit low-income earners, middle-income families with children and lift children out of poverty. The package entails: Increasing the Family tax credit by between $575 to $1,400 per year. Increasing
Mini-budget – Families Package Read More »
When an asset, such as a bach or a boat, is used both privately and to generate income, prescriptive rules exist within the Income Tax Act that determine the extent to which a tax deduction is available. Expenses broadly fall into three categories: fully deductible, non-deductible and apportioned. An expense is fully deductible if it
You may have heard the term ‘internet of things’ (IoT) bandied about recently, but what exactly is it? IoT is the name given to interconnected devices that can communicate with each other via the internet, through the sending and receiving of data. The IoT is rapidly changing the world in which we live, albeit somewhat
Internet of things Read More »