| lifeless | ibeardslee: chilts: http://www.ird.govt.nz/property/property-family-home/selling-your-home-taxable/ | 00:02 |
|---|---|---|
| lifeless | tl;dr unless you are deliberately making money by buying and selling your family homes, there is no tax. | 00:03 |
| lifeless | but property investment has tax | 00:04 |
| ibeardslee | GST vs Income Tax | 00:05 |
| ibeardslee | But it has been long enough since I've had to deal with GST so I doubt that I'm worth listening to about that | 00:06 |
| hads | GST is on land usually. | 00:07 |
| hads | That is if there is GST applicable, i.e. the vendor is a business. | 00:09 |
| G | actually, I tell you one instance where GST is confusing moving personal effects internationally, now that was confusing at first | 00:10 |
| hads | Yeah, Customs can be a pain and try to charge GST and duty and all sorts. | 00:15 |
| G | actually, thats a good point, I was kind of talking about the actual moving fees themselves | 00:15 |
| G | you end up by paying GST in both countries etc | 00:15 |
| mwhudson | ah yes, customs is a pain | 00:17 |
| hads | You don't have to pay GST on personal effects coming in to NZ but they are quite annoying about it. They seem to charge first and it's up to you to prove otherwise. | 00:17 |
| mwhudson | "so... the nz government wants an interest free loan from me?" | 00:17 |
| G | but I was actually lucky, Customs didn't charge me as much duty as I expected when I returned to NZ | 00:17 |
| G | I saved about a grand as a result | 00:18 |
| mwhudson | also annoying when people guess silly amounts on the value of the goods they are shipping you | 00:18 |
| G | hads: the rates have changed, but there were things that were basically GST+Duty, then they changed the rates and got rid of some of the double taxing, then when they started enforcing the $400 personal import limit for parcels, they iirc dropped them again | 00:19 |
| G | iirc I got my stuff just inbetween the two changes | 00:19 |
| hads | If it's personal effects they aren't meant to be charged GST or duty at all. | 00:20 |
| G | if they are less than 18 months old they can be assessed for GST/Duty | 00:21 |
| hads | http://www.customs.govt.nz/inprivate/sendingitemstonz/giftsandbelongings/Pages/default.aspx | 00:21 |
| G | hads: look at Unaccompanied Baggage | 00:23 |
| hads | It says personal effects are fine. | 00:23 |
| hads | I guess it depends on your definition of personal effects. | 00:25 |
| G | yeah, by personal effects, I'm applying the broad definition of things you own :) | 00:25 |
| === thumper is now known as thumper-afk | ||
| === thumper-afk is now known as thumper | ||
| ajmitch | morning | 19:32 |
| ojwb | morning | 19:54 |
| chilts | morning | 20:51 |
| ibeardslee | morning | 20:57 |
| G | morning | 20:58 |
| === thumper is now known as thumper-gym | ||
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