FAQS
HOW DO YOU MAKE A COMPANY INTO A LOOK-THROUGH COMPANY?
How do you make a company into a Look-Through Company or an LTC? HOW TO It’s reasonably straight-forward. Once the company is incorporated (click here if you want us to do this for you), you then complete and send off an IR862: Section 1 is fairly self-explanatory, although you may come unstuck at the part where it asks…
Read MoreWHAT IS FATCA? AND WHY IS MY BANK WRITING TO ME ABOUT IT?
What is FATCA? The IRD explains it nicely here. As they put it: The Foreign Account Tax Compliance Act (FATCA) is United States of America (USA) legislation that aims to reduce tax evasion by USA citizens, tax residents, and entities. Essentially, it’s a reporting regime to make sure that USA persons (and New Zealanders with accounts in the…
Read MoreWHAT’S MY RISK PROFILE?
Are You a Rational Investor? We would all like to find an investment which provides good returns with no risk. At this point a pig flies overhead. Yes, that sort of investment doesn’t exist. All investment involves some sort of risk. The question is, what sort of risk are you prepared to accept? To answer that question,…
Read MoreWHAT IS A SOLVENCY RESOLUTION?
WHAT IS A SOLVENCY RESOLUTION? A solvent company is one where the assets are more than the liabilities. An insolvent company is the opposite
Read MoreCOMMON QUESTIONS ABOUT YOUR FINANCIAL STATEMENTS
COMMON QUESTIONS ABOUT YOUR FINANCIAL STATEMENTS. Questions about your financial statements? Here are the answers to some common ones
Read MoreARE MY PERSONAL INSURANCE PREMIUMS TAX-DEDUCTIBLE?
It’s a good question. Here’s the expert opinion of John Brown, LL.B, Dip Fin Pl: Purpose Business insurance can be arranged so that business loans can be reduced or repaid not only on the death, or total disablement of the business owner, but also on the owner experiencing a critical illness or trauma, like a heart attack,…
Read MoreCOMMON MISCONCEPTIONS ABOUT FAMILY TRUSTS
The beneficiaries have the legal right to be informed and to be considered, and as a trustee you must prove that you have consistently done this. In other words, there is no such thing as a “passive” trustee.
Read MoreCHANGES TO FINANCIAL REPORTING REQUIREMENTS FOR SMES
ou might have heard of the Financial Reporting Act 2013 and the Financial Reporting (Amendments to Other Enactments) Act 2013. Maybe not. Anyway, changes which took effect on 1 April 2014 mean that entities that do not meet the large entity definition will no longer be required to prepare financial statements in accordance with NZ GAAP.
Read MoreARE THE LOSSES FROM MY RENTAL IN NZ TAX-DEDUCTIBLE IN THE UK (IF I’M WORKING THERE)?
ARE LOSSES FROM MY RENTAL IN NZ TAX-DEDUCTIBLE IN UK? …you have a rental property here in NZ, and it is making a loss; can you claim it in your UK tax return?
Read MoreRESIDENTIAL CARE SUBSIDY AND GIFTING
Previously, the country’s lawyers had advised people to gift no more than $54,000 per couple per year so that they wouldn’t be accused of excessive gifting when it came time to be assessed for a residential care subsidy. If your assets come under certain figures the Govt. will subsidise your rest-home care.
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