New Zealand Property Investors' Federation, (NZPIF) is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.
Phone: (03) 357 9243
Kiwi Mums and Dads are losing their homes in record numbers to mortgagee sales as the effects of the recession continue to bite residential homeowners.
As part of the Budget process, the Inland Revenue Department (IRD) has proposed limiting the use of LAQCs to reduce the overall tax paid by property investors and others.
New Zealand's home-building approvals rose to a two-year high in April, suggesting the property market is heading for a gradual recovery, buffeted by higher interest rates.
The Inland Revenue Department (IRD) says leaky buildings will generally not be eligible for depreciation deductions in line with rules for other buildings with a useful life of 50-plus years.
The first nationwide survey on the Budget of 2,097 people, commissioned by the New Zealand Business Council for Sustainable Development, found that denying depreciation on rental properties and commercial buildings is supported by 46% and opposed by about a fifth of people.
Property investors will not want to use LAQC’s going forward and they will use other structures instead according to Deloitte tax partner Mike Shaw, who is a member of the Tax Working Group.
The Government’s decision to deny property owners depreciation claims means that tenants will end up paying more for their rent.
Residential property investors will get another chance to claim depreciation on fit-out and maintenance costs with Inland Revenue reviewing these costs after the government followed through with its threat to remove property owners’ ability to claw back depreciation on buildings.
Changes to the tax treatment of investment property increase fairness and help rebalance the economy towards productive investment, Finance Minister Bill English and Revenue Minister Peter Dunne say.
Property investors will face greater scrutiny from the tax department after the government confirmed it will wipe depreciation write-offs for buildings.
The Government is closing the loophole on loss attributing qualifying companies (LAQCs), a favoured property investment vehicle, by aligning the tax rates between the structures' deductions and profits.
Bold changes set out in the Budget will primarily be funded through an effective tax increase for New Zealand property owners.
As the Budget looms, landlords and a university researcher claim that a key figure which has been used in the argument about rental investment is wrong.
Investors are showing less enthusiasm for rental property but attitudes to other classes of investment are rebounding, a quarterly ASB survey shows.
Thursday is budget day when the Government will announce what it's got in store to get the economy back on track.
New Zealand investor confidence in rental property has cooled in the past three months, and the popularity of other investment classes is gaining momentum, according to the latest ASB Investor Confidence Report.
Changes to the structure of the tax system are the most highly anticipated part of the Budget to be delivered on Thursday as the government looks to reduce distortions which have been affecting work and investment decisions.
Otago property investors are hesitant to participate in a voluntary scheme to star rank properties. The Student Tenancy Accommodation Rating Scheme (STARS) is a collaboration between the Dunedin City Council, the University of Otago and the Otago Polytechnic.
The government has taken a "giant step in the right direction" when it announced today it would increase the amount it is prepared to contribute towards repair costs for leaky home owners.
Police are warning Hamilton property owners to keep an eye on what their sites are being used for.
Landlords are being warned against kicking out tenants to make a quick buck from the Rugby World Cup.
Find out what's happening in your area.
Residential real estate sales fell 15% in April as the housing market remains subdued with the government's upcoming budget expected to bring in tax changes for property investors, according to the latest Real Estate Institute of New Zealand (REINZ) data.
Lee Whiley is anxiously awaiting the Budget to learn what impact changes to property tax will have on him.
Student accommodation in Dunedin continues to underpin residential property values in the city, according to new research.
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