Author Archives: Quinovic Viaduct
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The winds of change are blowing: 1st October is coming and with it will come the capital gains tax on rental properties. So, should you buy now or later? It all depends on your long term plan of ownership of your investment property.
Remember the tax will only apply if you sell the Investment Property within two years of ownership the tax is on the profit of the sale. Exempt are the following: family homes, inherited, or the home is needing to be sold due to a relationship split. This change only really clears up a problem of people whom were trading property and not declaring the tax gained on the sale.
The old law said that if you brought a property with the intention of selling if for gain that gain is taxable. The problem was the intention it was never clear. Now it is clearer if you buy and sell within the two years the tax will apply on the profit of sale.
The interesting thing is what happens if there is a loss on the Sale? Will you be able to claim this against your taxes? The other change is for overseas buyers whom will require a NZ Bank account and tax number Should you buy now or later? It all depends on a number of things the reason why you buying, how long you wish to hold and will the numbers add up giving you a return on the investment.
Property is a cycle and as long as you understand the cycle and you know where you are in the cycle when you buy you can either buy and hold, buy to sell, buy to improve and hold or sell. What is important just like every other decision you make get a team of experts around you to help you make the right decision for you.
We like to work with investors before they buy so we can help with advice on rental returns, and where to buy and what will work for both the investor and us. Just like all good sport teams you need to know whom to go to for the job to be done.
David Graham is Principal of Quinovic Viaduct, Auckland property management specialists. Find out how to list your apartment with them.
Posted by Quinovic Viaduct on
Auckland is a fantastic place to visit year-round but a bright Spring day can be magical. Longer days and warmer weather bring greater access to outdoor spaces - our sparkling harbour, beaches and parks, and to some of the city's most popular festivals and special events.
Base yourself at our centrally located Auckland accommodation and soak up all that the city and region has to offer this Spring. Here are just a few suggestions.
Picnic in a Park
Revel in the fresh fragrance and colour of Spring at the Auckland Botanic Gardens. Discover the outdoor sculptures, Potter’s children’s garden and it's the perfect time to enjoy Spring Blossom Valley and the Rose Garden.
Or spend a day at Cornwall Park. Stroll under the cherry blossoms and climb to the top of One Tree Hill - Maungakiekie for panoramic city views. The kids will love the cute baby lambs and the ice creams at the kiosk.
Don’t want to organise your own food? Take a trip to one of the region’s beautiful vineyards and let them do the hard work for you.
Shop local at Auckland's markets
Head to La Cigale French-style weekend Farmers’ Market in Parnell for delicious foods and produce from organic fruit and vegetables to freshly baked bread and pastries.
Further afield, the Titirangi Village Market is held on the last Sunday of each month. It's the perfect excuse to explore out West. Pick up some picnic treats and gifts, before a walk in the bush or on one of the wild beaches.
Marvel at the light exhibitions
Don’t miss one of Auckland’s biggest annual events, the Diwali Festival of Lights, in October at Aotea Square. It's a vibrant atmosphere with a range of authentic Indian cuisine, dance and music.
In November, the spectacular Art in the Dark (pictured) is held in Western Park, Ponsonby. The park is lit up with more than 40 incredible light art installations.
Catch a concert
Some of the world's biggest shows come to Auckland. This Spring there's a great line up from Cats the Musical to Russell Brand and Robbie Williams, among many others.
Take a day trip to Matakana
Visit the boutique wineries, pick up some seasonal artisan food at the weekend markets or browse the art and craft galleries. It might even be warm enough for a lazy swim at one of the picture perfect white-sand beaches.
Quinovic Viaduct provides high quality serviced holiday homes and apartments in central Auckland.