The “bright line test” was introduced in 2015 in an effort to tighten the property investment rules. Originally the bright line test provided (subject to exemptions) that any gain received from the disposal of a residential property, within two years of its acquisition, was taxable. The government extended the bright line from two years to five years on the 29th March 2018.
It is important to note that the test only applies to residential land and does not include farms or ...
Continue → ShareWith easy to use websites such as Airbnb or BookaBach it is becoming increasingly popular for many New Zealanders to let their holiday houses, or their main home, to short-term visitors. Any why not?! It is a fantastic way to make an additional income for your household. There are a few things however that you should consider before letting out your property for this purpose which include the following;
Council requirements
Check your District Plan for permitted activities in your zone. The ...
Continue → ShareBuying your first home is a very exciting time. Unfortunately, rapidly increasing house prices means that it is becoming increasingly difficult for first home buyers. This coupled with the rental shortage has put many families in difficult situations.
In the recent election, many promises were made to improve the New Zealand housing situation and provide more security for renters. The best form of security may be for renters to get creative with their options to secure a home of their own.
Most ...
Continue → ShareThere is an awful lot to consider when you are buying a home. Between negotiating and securing an agreement, investigating the property to make sure it is a wise investment, arranging finance, making KiwiSaver first home withdrawals and obtaining Homestart grants (if you are a first home buyer), settling and everything in between, there is a lot to deal with. This article will focus on one important aspect of home ownership and the buying process – your options for the ...
Continue → ShareWe strongly encourage adults to have a current Will (to deal with what should happen when you die) and current Powers of Attorney (to deal with your affairs if you are unable to deal with them yourself).
Wills
A Will is an important legal document which states your wishes of how you wish your property to be distributed when you die. It covers the following areas: