Renting your home or holiday home over Christmas?

Are you renting your home or holiday home over the holiday period? If so, you should read the Ministry of Business, Innovation and Employment’s article below which covers: creating and enforcing a holiday rental agreement tax obligations, if any insurance cover health and safety and consumer laws claimable expenses and record-keeping.

Residential Land Withholding Tax

Kiwis living aboard may face residential land withholding tax (“RLWT”) of up to 28% if they sell residential property in New Zealand within two years of acquisition. RLWT may impact on the profitability of the sale of residential property by those deemed to be an offshore person. Who is an Offshore Person? The definition of…