1 October has come and gone and the World is still turning. Personally, I haven’t noticed the 2.5% increases in price. But then, the increases haven’t been across the board. Some retailers and other businesses have elected to carry the increase themselves, or are saving an increase for a more appropriate time. And given the wildly fluctuating prices of recent times, its hard to know if changes for some are just price movements or tax changes!
Most of you will have experienced by now the income tax changes with more in your pay packet. This is the perk of the budget changes.
Another change that is becoming clearer are those being undertaken in respect of Loss Attributing Qualifying Companies (LAQC). There are sweeping changes that will have a potentially significant impact on NZ’s famous rental property industry. LAQCs will, from 1 April 2011, no longer be able to allocate losses to their shareholders. There are solutions, but it is vital that you contact your Accountant/Tax Advisor to discuss options and solutions.
Our staff are all well versed with the many changes the Government have introduced. They will be more than happy to discuss any questions you might have. They too are experiencing some big changes, but I’ll cover this in my next blog.
Till then…..
Lincoln
Lincoln Sharp - Thinking Forward 