OCTOBER 2008 NEWSLETTER

Courage is not the absence of fear; it is the conquest of it. - William Danforth (1870-1955)

Special Tax Codes

Some tax payers have applied to Inland Revenue with our assistance for a Special Tax Code. This reduces your PAYE rate, and is usually based on “estimated” losses from rental properties.

Just a word of caution. If circumstances change, the net effect of this could be an unexpected tax bill at the end of next year. You must tell us if you do the following:

· Sell your rental.

· Decrease (by lump sum) or Repay your rental’s mortgage.

· Have an increase an annual income.

Provisional Tax

For our clients who are provisional taxpayers, the provisional tax provision dates were changed with effect from the 2008/09 income year. This was highlighted in our last newsletter. If you are a provisional tax payer who pays GST on a six-monthly basis then your tax payment dates are as follows:

If you...	Then your provisional tax due dates will be...
have a standard 31 March balance date and pay GST on a six-monthly basis	28 October and 7 May.

If this is you, then you can expect to shortly receive your provisional tax reminder letters.

Property Investment Course .

Through one of our clients we have secured you an opportunity to attend a low cost property investing course. This course will be held in Palmerston North on 11 and 12 October 2008.

This is a limited time offer and seats have been made available to our clients for just $249 (normal retail price $2495)!

This event is designed specifically to equip you with everything you need for property investing success in New Zealand today and in any economic climate. It will also give you some unique networking opportunities