About Ross
Ross loves property, and personally invests in residential long-term holds, residential subdivisions and developments, commercial property trading, commercial property long-term holds and has previously been involved in residential property trading. As Ross is constantly active in the market, living and breathing property every day, he is up to date with all the tips and tricks and understands property risk and returns through actually doing subdivisions and developments himself. Ross can bring a different perspective to some ownership and development structures that can save thousands in tax over the long term, and loves reviewing and improving ownership frameworks. Ross founded Coombe Smith (now Lifetime) Property Accounting at the age of 24, and now, almost 20 years later, he focuses less on day-to-day accounting and more on high-level property advice and ownership structure optimisation.
Check out upcoming webinars and events with Ross here.
Neither Lifetime nor I have been subject to a reliability event. A reliability event is something that might influence you in deciding whether to seek advice from either myself or Lifetime. As an example, this would be a serious event such as legal proceedings against me, or bankruptcy in the last four years.
Get In Touch
Contact Ross on 07 839 2801 | cspa.support@lifetime.co.nz or alternatively send us an online enquiry below.
The Flaw In The Provisional Tax System For Property Investors
The first provisional tax payment is due on 28th August, this is either:
If 2024 tax returns have been filed, then based on 2024 plus 5%. If under the $5,000 Residual Income Tax (RIT) threshold for the 2024 year, then will be $0 [many property investors will have losses or low profit, and no provisional tax due!]
Otherwise based on 2023 plus 10%. If under the $5,000 Residual Income Tax (RIT) threshold for the 2023 year, then it will be $0.
Opportunity Following Election
As soon as we talk election or a new Government, I think of opportunity. The key thing is to wait until the new legislation is finalised. This won’t be for some months, but, we have a great opportunity to plan for the next few months and potentially make changes around the start of the new financial year.