Main Home Exemptions
Hi again
Exemption for your main home under the bright line tax is full of fish hooks .
One example is:
Often clients assume because they are “now living in it” their home (previously rented) is exempt.
When using Trusts the main home exemption rules can be blurred. It is very important you check with your Tax Advisor so that settlement on sale or purchase happens correctly. Done incorrectly there are significant taxation liabilities.
If you would like some independent advice or need an Accountant please call us.
Phone: 095280069
www.Westons.co.nz...
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
Poll: Do you think NZ should ban social media for youth?
The Australian Prime Minister has expressed plans to ban social media use for children.
This would make it illegal for under 16-year-olds to have accounts on platforms including TikTok, Instagram, Facebook and X.
Social media platforms would be tasked with ensuring children have no access (under-age children and their parents wouldn’t be penalised for breaching the age limit)
.
Do you think NZ should follow suit? Vote in our poll and share your thoughts below.
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85.6% Yes
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13.2% No
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1.2% Other - I'll share below
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