CWC Partners Group

The Tax Change Property Investors Need To Be Aware Of

The Tax Change Property Investors Need To Be Aware Of

New legislation details regarding the government’s plan to limit and phase out property investors’ interest deductions also reveal other impacts to property investors.  The move to phase out interest as a taxable deduction aims to make rental property a less attractive option for investors over other assets with more supply. This is due to the… Continue reading The Tax Change Property Investors Need To Be Aware Of

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Income Equalisation Schemes: What You Need To Know

Income Equalisation Schemes What You Need To Know

An income equalisation scheme is offered to businesses in farming, fishing, forestry, testing, construction and mining industries. It operates as a method for businesses to even out income fluctuations by distributing their gross income from year to year. A special account is created for businesses where they can pay their income and earn an interest… Continue reading Income Equalisation Schemes: What You Need To Know

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Here’s A Super Simple Way To Boost Your KiwiSaver Balance

Heres A Super Simple Way To Boost Your KiwiSaver Balance

The impact of COVID-19 may mean that there may be many New Zealanders who may have had to adjust the way in which their money is being spent. Most employed people have Kiwisaver payments deducted automatically from their pay, but did you know that you can add to your KiwiSaver savings at any time?   … Continue reading Here’s A Super Simple Way To Boost Your KiwiSaver Balance

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Using Your KiwiSaver To Buy Your First Home

Using Your KiwiSaver To Buy Your First Home

Owning your own house may not have to remain a dream if you have been a KiwiSaver member for at least three years.    Being able to purchase your first home may sound like a fantasy, but if you have been steadily saving over the years and remained a member with KiwiSaver for three years,… Continue reading Using Your KiwiSaver To Buy Your First Home

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New Purchase Price Allocation Rules, And What They Mean For Disposing Business Assets

New Purchase Price Allocation Rules And What They Mean For Disposing Business Assets

The new Purchase Price Allocation rules surrounding how business assets are valued when sold as a bundle have come into effect as of 1 July 2021. Applicable to the sale of assets such as commercial property, forestry land or business, the new rules will bring consistency to agreements for the disposal and acquisition of property.… Continue reading New Purchase Price Allocation Rules, And What They Mean For Disposing Business Assets

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What Does Paying Tax On Rental Income Involve?

What Does Paying Tax On Rental Income Involve

Did you know that if you rent out your home to others, you will be required to file a tax return on that income received from the rental property, like you would do for other income received? Needing to file a tax return, and pay tax on their rental income can apply to those who… Continue reading What Does Paying Tax On Rental Income Involve?

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Tax Shortfall Penalty Payment Rates

Tax Shortfall Penalty Payment Rates

New Zealand’s tax system follows self-assessments concepts. This means that it is the taxpayers responsibility to ensure that they are correctly calculating their tax, and have taken the reasonable care to do so. If a tax return has been lodged incorrectly or there are details missing from it that are needed, the taxpayer may not… Continue reading Tax Shortfall Penalty Payment Rates

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