Current Category: Thomas Chin Report
Residential Tenancies Act Changes
On Tuesday July 20, Parliament passed into law the RTA Amendment Bill, which will come into effect upon the Governor General’s signature.
The following is a summary of the key changes affecting Rental Property Owners, with other changes detailed at the end of the report.
SUMMARY The RTA Amendment Bill has been discussed and argued over for more than six years.
The NZPIF has been involved in the changes to the RTA throughout the entire process and at a high level. We are mostly pleased ...
posted in: Landlord Rights and Obligations, Tenancy Issues, Governmental & Regulatory, Residential Tenancies Act, Tenancy Tribunal, Thomas Chin Report, NZPIF President Report
Thomas Chin Report - Political and Regulatory Report for May 2010
BUDGET 2010 - TAX CHANGES
The Government has announced major tax measures that affect residential rental property investors. The widely anticipated changes to building depreciation were confirmed.
From 1 April 2011, property investors will no longer be able to claim depreciation on both commercial buildings and rental houses against their income.
The values of assets held in trusts will be counted as part of a household's income when deciding eligibility for Working for Families.
Rules...
posted in: Tenancy Issues, Budget 2010, Governmental & Regulatory, Personal Income Tax Cuts , Residential Tenancies Act, Tenancy Tribunal, Thomas Chin Report, Taxation, NZPIF, LAQC, GST
Political and Regulatory Report for December 2009
RESIDENTIAL TENANCIES AMENDMENT BILL - 2nd READING COMMENCED
The Government commenced the second reading debate of the Residential Tenancies Amendment Bill on 8th December. This process basically menas that Parliament is asked to adopt the bill as reported back, with amendments from the Social Services Select Committee.
As previously reported, the Committee's key recommendations to improve the bill included changes to the following provisions:
Cleansing orders - Omitting clause 9(1) requ...
posted in: Governmental & Regulatory, Residential Tenancies Act, Thomas Chin Report, Taxation
Political and Regulatory Report for November 2009
TAX WORKING GROUP - RENTAL PROPERTIES TAXES
The government appointed Tax Working Group, comprising academics, regulators and other experts is due to release a set of far reaching tax reform recommendations at a public conference to be held in Wellington on 1st December. The Federation will be attending the meeting.
Amongst other things, there will most certainly be recommendations on future tax treatments on rental property. A range of burdensome measures including a new land tax has been...
posted in: Real Estate Agents Authority, Governmental & Regulatory, Building & Housing, Thomas Chin Report, Taxation
August Thomas Chin Report
NZPIF CONFERENCE - AGM Ministerial keynote During the month the Federation held its annual general meeting and conference in Auckland. AGM delegates were given an overview of political and regulatory settings confronting property investors and challenges for the coming 12 months. Delegates were also briefed on the ongoing task of maintaining effective working relationships with relevant key influencers. The conference was as usual, attended by a Minister of the crown. Minister of Housing...
posted in: Finance, Landlord Rights and Obligations, Governmental & Regulatory, Residential Tenancies Act, Thomas Chin Report, Taxation
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