Blue Chip seeks tax ruling

Sunday 10 October 2004

Listed housing specialist Blue Chip New Zealand has yet to obtain a binding ruling from Inland Revenue on a unique tax structure the company uses to attract investors.

By The Landlord

Managing director Mark Bryers said the company made its final application late last year and was hoping for an early decision from the IRD.

"As I understand it, we have fulfilled all the process requirements that they were seeking."

Blue Chip, which gained NZX listing earlier this year via a reverse takeover of ex telecommunications company Newcall, promotes residential investment to investors who have paid off part or all of their mortgages. The company holds seminars, finds tenants and manages the housing portfolios.


One of the advantages the company claims it has over competitors is its tax structure.

However, neither Bryers nor new chairman Jock Irvine would disclose details of the system for fear of giving away valuable intellectual property.

Read More - Opens in a new window
Commenting is closed

Property News

Collaboration key to urban development

Central and local government and industry must work together to ensure that the Government’s proposed new urban development strategy is successful.

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.

Commercial

NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.

Mortgages

LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer