Ring Fencing Tax Losses
- CPD Points: 1.00
- Access Restrictions: This video is only available through the Property Institute site to people who have purchased access using the Register button on this page.
- $57.50 Members
- $115.00 Non Members
About the Event
The ringfencing of residential rental losses is the last of a line of tax changes designed to dampen investment demand for rental property in NZ.
The change didn’t receive the air time other changes have due to the debate being dominated by the CGT proposals but ring-fencing of losses has significant impacts for leveraged property investors in the residential sector. The design of the legislation creates a real case of the haves and the have nots with tax outcomes now distorted for different types of investor depending on whether your portfolio is profitable or not.
This webinar will explain the new rules and how losses are treated and unlocked going forward. It will also look at planning opportunities and consider some of the fairness issues the legislation throws up along with consideration on whether the changes are likely to deliver the outcomes the government was hoping for.
Presented by Stephen Tsang and Mark Withers Partners | Chartered Accountants | Withers Tsang
About Stephen Tsang
I was born and raised in Hong Kong, and came to New Zealand when I was 17.
After graduating from Otago University I moved to Auckland and developed a thriving client base, explaining trust deeds and legal documents, which at the time very few accountants had the ability to do.
When we started Withers Tsang in 1998 many of my clients followed, and I became a trusted business confidante and liaison for many of them. I still take on diverse roles as advisor and intermediary for my clients, negotiating large lending facilities, undertaking succession planning, advising on new business start-ups, tax/trust related issues, and much more.
I enjoy public speaking and I present seminars for banks and businesses and participate in radio programmes talking about tax matters.
Bachelor of Commerce, Otago University (accounting and economics)
Member of Chartered Accountants Australia + New Zealand | Hong Kong Institute of Certified Public Accountants
About Mark Withers
I grew up in Warkworth, the son of highly respected chartered accountant. I’ve been a chartered accountant in public practice my entire career, from a clerk in the early days, to starting Withers Tsang with my business partner Stephen Tsang, in 1998.
I’m a regular commentator on property tax matters, and the author of “Property Tax – A NZ investors Guide”, the first book on the subject to be published in New Zealand. I am also a residential and commercial property investor.
Outside of professional life, I enjoy spending time with my two sons. I volunteer as a radio operator for the coast guard, and I’m a qualified windsurfing instructor. I also enjoy getting out on my electric bike.
I tell my clients ‘don’t leave wind to find wind’. It’s all about stickability – if you are in a good position, stay with it. If something is working, keep doing it. It’s a personal philosophy that has served me well for over 20-years.
Auckland Technical Institute (now Auckland University of Technology) – National Certificate in Business Studies
Member of Chartered Accountants Australia + New Zealand | Founding member and treasurer - Auckland Property Investors Association (now a Life Member)
Withers & Tsang
Withers Tsang are a vibrant, innovative, forward-focussed Chartered Accountancy Firm. We have all the insight and acumen you’d expect from a leading firm; our difference is that we place our clients right at the heart of our forward thinking, so we build strong, lasting client relationships. While we’re best known for our advice around property investment and development, our expertise extends to tax structuring, compliance, business & asset planning, succession planning, IRD liaison, and much more.
Property investors, developers and business large and small value our advice and our approach.
Take a look and get to know us better. – 09 376 8860