Well you may not be smoking crack or selling babies on ebay, but you’re a property investor, and very quickly no one’s on your side.
You may or may not be completely up to date with the proposed changes that will likely pass into law in relation to ‘ring fencing’ of property losses. Will this be the straw that breaks the back of many newbie property investors? If losses incurred from property investment cannot offset other taxable income does it still make sense to grow wealth via property?
What about capital gains tax – yes, this is a thing in NZ but it’s been branded ‘the bright line test’. Previously 2 years, this has also recently changed and should be factored in when buying your next property.
Tax specialist Karl Moreton from Lock & Partners joins host Darcy Ungaro to discuss and explore the impact of some of these [proposed] changes. Burying your head in the sand is not an option here if you currently hold, or are thinking of holding property.
Listen to the Podcast here:
A bit about our guest – Karl Moreton
Director at Lock and Partners Tax Advisers
With over 18 years experience Karl has previously worked for what is now accounting giant PriceWaterhouseCoopers and some of Europe’s leading investment banks with a broad range of both small and large clients. Karl joined Lock & Partners in 2006 and has been successfully delivering a vast range of services to his clients including business structuring, business development and taxation planning and advice. With a strong proactive client focus and an ability to add value to his clients, Karl is results driven and delivers all services to an exceptional standard.
Karl can be contacted on:
Phone: 09 3798410
Mobile: 021 2862601
Fax: 09 3098454
For more info on the proposed changes please refer to: http://taxpolicy.ird.govt.nz/news/2018-03-29-issues-paper-loss-ring-fencing-rental-properties-released
Where to find Darcy Ungaro:
Ungaro &Co (registered) financial advisers: http://www.ungaro.co.nz/
Facebook – NZ Everyday Investor Podcast: https://www.facebook.com/NZ-Everyday-Investor-338969376637717/