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Eagle Eye Property Insights - Issue 4

1. The Government just loves creating more work for us accountants! For the 2023/2024 financial year landlords will be able to claim 60% of their interest expenses, the exact date this will commence is yet to be determined.2. The Reserve Bank recently noted in their latest OCR announcement that 20,000 borrowers were behind on their repayments and borrowers were paying an average interest rate of 5.4% when the current average was around 6.4%. There is still a lot of pain to come.3. The first sign...

Eagle Eye Property Insights - Issue 3

1. Recently I heard of some property investor friendly changes to bank lending policies such as a ten year interest only product and higher percentages of rental income applied to servicing to cover expenses . It could be a good time to talk to your mortgage broker!2. Do you own rental properties but want to have a crack at property trading or developing to make some extra money? If you’re thinking of going down this route please talk to us first. There are a whole set of different tax rules t...

Eagle Eye Property Insights - Issue 2

1. Post-Election Optimism: Election night came and went on October 14, 2023, and from what I have hear there seems to be increased confidence in property investment circles. The air is thick with anticipation as we await the final government makeup and the specifics of policy changes. My hunch? We'll likely won’t see any shifts prior to April 1, 2024.2. Interest Deductibility Alert: Keep a close eye on the far-reaching effects of the Interest non-deductibility rules. We recently witnessed a re...

Eagle Eye Property Insights - Issue 1

Introducing our newest feature – regular property insights from our very own Graeme Eagle; our Walsh property expert and Senior Accountant. These updates are designed to help you stay informed about New Zealand’s dynamic real estate landscape – let us know if there’s something in particular you’d like to hear about!Market turnaround?: According to REINZ (Real Estate Institute of NZ), the NZ Property market bottomed out in May 2023. Things are on the up, but it will be a gradual climbMu...