Misc

Investors in $2.2m row with IRD

Apartment investors who bought Queenstown units developed by Aucklander Tim Manning are caught up in a tax struggle, after Inland Revenue sent out notices last month demanding $2.2 million in unpaid GST.

Thursday, February 10th 2005

Sydney and Hong Kong investors were surprised to get tax demands and 15 owners have banded together, engaging New Plymouth lawyer Grant Shand to oppose them.

But Shand said some had paid out immediately - about $30,000 each.

The 75-unit Greenstone Terrace at 716 Frankton Rd was developed by two subsidiaries of Manning's Taradale Properties, Greenstone Terrace and GT2.

Many Auckland Taradale developments are at the centre of leaky homes issues.

A third of the 153-unit Sacramento housing complex in Botany Downs in East Auckland is so rotten it must be bulldozed and rebuilt, according to the court claim lodged late last year by owners seeking $19.2 million from those involved in its design, development and construction.

Residents of the Taradale-developed 10-unit Ponsonby Gardens have been fighting for $1.2 million for repairs.

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Property investors refocus on cash flow

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Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Heartland Bank - Online	6.69
SBS FirstHome Combo	6.74
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.45
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ASB Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
Kiwibank Special	6.79
Co-operative Bank - Owner Occ	6.79
ANZ Special	6.79

ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
SBS Bank Special	6.55
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
Kainga Ora	6.99

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50