113 Bank Street, Whangarei, Vinetown 09-4388 879 shp@shp.co.nz

Syers Hamilton Pool Accountants Building Whangarei

Latest News

Latest News 

Residential Rentals – What’s Happening to Your Losses?

Shelley Yeates 373 Article rating: 5.0

If you own residential rental property, the rules have changed from the 2019/20 tax year onwards, with regards to any losses made.

 

Rental losses (i.e. where your tax deductible rental expenses exceed your rental income) can no longer be off-set against other income such as business income, wages, interest and dividends.  Instead, rental losses will be carried forward to use against residential rental property profits in a future year.

Anti-Money Laundering and Countering Financing of Terrorism Act

Shelley Yeates 350 Article rating: 5.0

As we have previously mentioned, from 1 October 2018 we are required to comply with this Act.  The purpose of the Act is to detect and prevent Money Laundering and Terrorism Financing in New Zealand. It has been deemed that the services we offer may be attractive to those involved in criminal activities, especially as using us would provide a perception of legitimacy to these criminals.

Income from Portfolio Investment Entities (PIE’s) – Check your Prescribed Investor Rate (PIR)

Shelley Yeates 473 Article rating: 4.5

If you have investments in PIE’s (the most common one being a KiwiSaver account), you need to make sure the income is being taxed at the correct rate.  For a New Zealand resident individual, the correct Prescribed Investor Rate (PIR) is based on your income for the last two years. 

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