Free Property Advice. Property finance
- A Reverse Mortgage - 'Is it for me?' In this article, Jane Quinn, a solicitor with Harkness Henry & Co, looks at the merits and pitfalls of reverse mortgages. If you, as an older person, are concerned that the slowing property market means that selling your home and moving to a retirement village or another newer property is not an option, you may consider a reverse mortgage to pay for a new kitchen, bathroom and heat pump. Read More »
- Reverse Mortgages For many New Zealanders, the family home is their most valuable asset. For some people this can mean they are asset rich but cash poor. It is such people who are being targeted in marketing campaigns for reverse mortgages. These mortgages can have serious implications for the home owner. Although they are relatively new in New Zealand, they have been around for many years in the USA and UK. Read More »
- You and Your Qualifying Company If you have thought about buying a rental property, you may have been advised to purchase it through an LAQC - a Loss Attributing Qualifying Company. The benefit of an LAQC is that it provides the opportunity to distribute income at the lowest tax rates and allows rental losses to be offset against other personal income. This booklet, published by Kendons Chartered Accountants Limited, takes you through the mechanics of Qualifying Companies and LAQCs, including how to set them up and why might you want to consider doing so. Read More »
- You and GST On Your Real Estate Transactions Despite all the form filling required to record GST outputs (income) and inputs (expenses) moving through business affairs, GST is basically a very simple tax. Unfortunately it becomes complex around the edges of the few items which are excluded from its claws by being exempt, zero rated, or charged at a non-standard rate. Whether ‘IN or OUT’ often raises complex issues of interpretation, and hence a large number of cases fall to be considered by the Courts, with a very substantial proportion relating to real estate transactions. Read More »
- Mortgage Fraud We like to think in this untrustworthy world that if you can trust anyone, you can trust your family, right? Mr and Mrs Keri (not their real name) certainly thought they could trust their son, Rodney … but how wrong they were. This article looks at a case that went all the way to the Supreme Court, involving families, forgery, and a finance company. Read More »
- Home Equity Release Schemes - A Means of Financing for Old Age People aged 65 and over make up a large and growing proportion of New Zealand’s population. Home ownership rates among older people in New Zealand are high, but their incomes are, on average, lower than for younger age groups, so that many fit the description “asset rich, income poor”. This article looks at home equity release schemes and makes several points you should consider before taking a scheme up. Read More »
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