Property tax laws tightened
New tax-avoidance measures target those regularly turning over property. The bright-line test applies to property sold inside 2 years of purchase, with further tightening laws likely.
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New tax-avoidance measures target those regularly turning over property. The bright-line test applies to property sold inside 2 years of purchase, with further tightening laws likely.
A bit of lateral thinking can come in handy. As an example, some objects most builders have to hand can help direct your thinking about how best to do business in today’s challenging environment.
The nature of the building industry means it’s often easier to hire contractors rather than employees. But make sure you understand the difference, and its implications, or you may be leaving your business exposed to considerable risk.
Too often, business owners do not seek good taxation advice when purchasing land for development projects. The result can be a nasty gst surprise or an unrecoverable loss of profits.
The tax rules changed in 2015 for lease payments of commercial property. We look at various lease incentive options and the tax implications for landlords and tenants.
As the popularity of short-term stay accommodation such as Airbnb soars, Inland Revenue has stepped in to look at issues around GST for the property owners.
Inland Revenue (IRD) recently provided some clarity for retention payments on construction projects in a draft Questions we’ve been asked. We review this advice and contractors’ rights when projects go bad.
Changes being made to lease inducement and lease surrender payments could affect how property deals and contracts are structured in the future.
Building contractors can retain payments to subcontractors until the work is completed. But is more protection needed for situations when the liquidators are called in and subcontractors are out of pocket?
Before changes to GST rules in 2011, there were some dodgy land deals. The problem is, this didn’t stop the headache for builders. The new ADLS/REINZ standard sale and purchase agreement form should fix this.