New Zealand

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 12/07/2012

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Rebecca Armour

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rarmour@kpmg.co.nz

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Tax

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Taxmail - Kiwi bach: new tax rules for mixed-use assets 

Issue 1, July  2012

 

In the 2012 Budget, the Government confirmed it would tighten the rules for taking deductions on assets used privately and to generate income (“mixed-use assets”).   At the time, the details were sketchy. 

 

However, a statement by Revenue Minister Peter Dunne (PDF: 1MB) sheds more light on the proposals.  Interestingly, the proposals include the intention to ring fence losses if the asset does not generate enough income.

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Taxmail discusses the proposed mixed-use asset rules, including the impact of the proposed loss ring-fencing, which is targeted at those mixed-use assets with low levels of income.

 

This is an indication perhaps that these are considered to be essentially private assets, rather than signalling the wholesale return of loss ring-fencing.

Taxmail - Comment on topical tax issues from KPMG NZ Tax. 
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