SearchIs my daughter liable for tax?
Yang Shien asks:
(updated on Friday, May 13th 2011)
Our Experts Answer:
If your daughter is the registered and beneficial owner of the property and has rented the property she is liable for tax in NZ on the net rental income. If your daugher is holding the property on trust for you then you are liable for tax in NZ on the rent your daugher pays you plus the rent from the other unit. Despite being non resident you are still liable for tax in NZ on income derived in NZ.
Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.
Most Read
| Unity First Home Buyer special | 4.15 |
| SBS FirstHome Combo | 4.29 |
| ICBC | 4.49 |
| Kainga Ora | 4.59 |
| SBS Bank Special | 4.69 |
| AIA - Go Home Loans | 4.75 |
| Unity Special | 4.80 |
| China Construction Bank | 4.85 |
| Co-operative Bank - First Home Special | 4.89 |
| ASB Bank | 4.99 |
| ANZ Special | 4.99 |
| China Construction Bank | 4.95 |
| Kainga Ora | 4.95 |
| ICBC | 4.99 |
| SBS Bank Special | 5.29 |
| Unity Special | 5.29 |
| Westpac Special | 5.29 |
| Co-operative Bank - First Home Special | 5.29 |
| ANZ Special | 5.35 |
| BNZ - Std | 5.35 |
| TSB Special | 5.39 |
| Kiwibank Special | 5.39 |
| SBS Bank Special | 5.49 |
| ASB Bank | 5.59 |
| AIA - Go Home Loans | 5.59 |
| ICBC | 5.65 |
| Kainga Ora | 5.69 |
| BNZ - Std | 5.75 |
| Westpac Special | 5.75 |
| Co-operative Bank - First Home Special | 5.89 |
| Kiwibank Special | 5.89 |
| TSB Special | 5.99 |
| China Construction Bank | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.79 |
| CFML 321 Loans | 4.20 |
| ICBC | 5.39 |
| Co-operative Bank - Standard | 5.69 |
| Co-operative Bank - Owner Occ | 5.69 |
| Kainga Ora | 5.79 |
| Pepper Money Prime | 5.99 |
| Unity Standard | 6.04 |
| Unity Special | 6.04 |
