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At last some good news out of Inland Revenue. Fringe Benefit Tax (FBT) The FBT rate for low-interest loans will fall from 8.05% to 6.41% from 1 July 2009. This has come about due to the continuing effort to try and align the rate with the..
Read ArticleAs in sport, we improve our performance by competing against others. If you run by yourself you will never know if you will win a race. The same applies to business. For example, suppose you operate a Paint and Panel shop. You might think your..
Read ArticleKiwiSaver is a voluntary, work-based savings initiative to help New Zealanders with their long-term saving for retirement. It's designed to make it easy for people to get into the habit of saving regularly. Effective from 1 April 2009, changes were made to the KiwiSaver Scheme. ..
Read ArticleIn these tougher times we have noticed vendors asking for early release of deposits before actual settlement has taken place. If you have purchased a property and paid a deposit on the unconditional date, we would recommend you think twice before agreeing (and don’t) to any..
Read ArticleLast week, Bill English delivered the first budget of the National Government. In it, he confirmed the deferral of the planned personal tax cuts in 2010 and 2011. This came as no surprise to many. We have outlined a very brief summary below of the..
Read ArticleAPRIL IRD UPDATES: Changes Affecting Individual Taxpayers, KiwiSaver and Businesses
by John Rowe 05 May 09There are significant changes that the government has introduced that will affect nearly everyone, especially those who are individual taxpayers, part of KiwiSaver, or business owners. Read below to find out more. Changes Affecting Individual Taxpayers: The 33c in the dollar personal tax rate threshold..
Read ArticleIf You Invest in Property, You Can Pay Less Tax With A Special Tax Code - IR23Bs -
by John Rowe 26 Apr 09A special tax code allows your employer to deduct PAYE at a lower amount, effectively paying you your tax refund during the year in each pay you receive. Are you receiving a salary or wage? Do you have investment property that generates tax losses? Do..
Read ArticleOn 1 April 2009 the Government introduced a new tax credit - the independent earner tax credit or IETC. The IETC will, from 1 April 2009, deliver $10 per week to individuals who earn between $24,000 and $44,000 and who do not receive a benefit,..
Read ArticleDo you struggle to organise your financial and tax records during the year? Is your accountant constantly asking for additional information? Does your record keeping resemble a shoe-box? Getting your financial records organised is important, but many of our clients don't have the time or..
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Fabulous advice to assist people just getting started in property investment. A wealth of knowledge packed into six 2 hour sessions which are easy to fit in to a busy working schedule. There are a lot of tips and tricks to make sense of what can be a very complicated process. I leave property school with the confidence injection I needed to go forward with a plan. - Name unpublished by request
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Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.
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