There will never be a better time to start saving for your retirement than today. What stops so many people however is that they make retirement saving an all or nothing concept – balancing your priorities is critical…..
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Earlier this year, Kiwis gained the ability to access new contribution rates towards their KiwiSaver fund. In addition to the 3%, 4% and 8% rates of salary, we can now also contribute 6% or 10% towards our fund. A new survey this week, however, has found that only around 6% of people are taking advantage of these new contribution rates…..
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Last week was Money Week in New Zealand, an annual event designed to raise awareness of financial issues and literacy. This year it also coincided with Maori Language Week where people are encouraged to speak more Te Reo – to give it a try. Interestingly, the theme of Money Week this year was also about communication and encouraging New Zealanders to talk about money with their taupuhi (loved ones), whanau (family) and tamariki (children)……
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Negative interest rates
In ‘normal’ circumstances, we would expect to see higher interest rates in an economy with strong wage growth and low unemployment. Whilst the global economy has rebounded from the lows of the Global Financial Crisis in 2008/09, things aren’t exactly back to ‘normal’. Across the US, Australia, New Zealand and other developed nations, interest rates remain low - the cost of borrowing is still very cheap….
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In 2016, an odd ruling came through the Court of Appeal (CoA) in New Zealand. The court found that two Auckland tenants who had left a pot of oil on high heat unattended (which resulted in the property suffering a major fire) were not liable for any of the costs of damage due to the unintentional nature of their actions….
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oth Australia & New Zealand's economies have got kicked around in the last 2 months resulting in the Reserve Bank of Australia (RBA), followed by the Reserve Bank of New Zealand's (RBNZ) moving to historic low interest rates. Both banks are looking to stimulate growth in their respective economies and support the outlook for employment and inflation. In addition, Adrian Orr, New Zealand’s Reserve Bank Governor has attempted to talk up the benefits for businesses and home owners that now is a good time to borrow and invest, while the cost of capital is at historic lows….
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A few weeks ago, we touched on whether now is a good time to invest in property with changes around insulation requirements and tax law (the short answer – it depends on your personal circumstances). This week we delve further into the detail of the tax changes that affect all investment property owners as of the 1st of April 2019.
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Kiwis are lucky to have ACC in place. It’s a scheme that provides a basic level of assurance when it comes to our livelihoods and its structure means New Zealand avoids much of the personal injury type litigation associated with places such as the United States….
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“I am delighted to be appointed to the role of CEO. I look forward to driving FoxPlan through a period of major regulatory disruption and achieving our ambitious growth targets. I want to thank the board for their consideration in my appointment” said Paul Barnes….
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Overall, the three months from April to June represented another good period for investors in risky assets. Although, as per usual, a critique of the global environment over the period doesn’t provide an obvious explanation of why that should be the case. Some of the largest issues facing markets remained as unresolved at the end of the quarter as they had been at the start. In that category were …….
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The basis of all great relationships is trust and it should be no different when dealing with your financial adviser. Building that trust, however, isn’t always easy with the number of laws, regulations and titles given to different types of advisers within New Zealand….
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It’s not the easiest time to be a Landlord right now. 484 Landlords are potentially in hot water over their failure to insulate their investment properties. New tax changes have also meant that losses from owning a rental can no longer be claimed against direct income and must be deferred forward….
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At FoxPlan we believe our lending team is first-class and two recent success stories demonstrate the lengths our team will go to when it comes to securing first-home finance.
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We understand that many investors we work for have little interest in the nuances of investment management. However, we know you do care about your goals and that you trust FoxPlan to allocate an appropriate portfolio to help you achieve your goals….
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Facebook recently announced the launch of its own digital currency ‘Libra’. Facebook envisions this currency being used to pay for everything including your daily coffee, eCommerce and even financial services….
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You have likely heard the news earlier this month that on the back of the IRD’s new tax refund system being implemented, 450,000 taxpayers were identified as paying the wrong PIR tax rate on their KiwiSaver …….
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New Zealand is the second most charitable nation on Earth and in 2014 we donated over $1.53 billion to worthy causes. Our giving nature is a fundamental part of the Kiwi ethos and we are always happy to pitch in and help when the need arises….
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Kiwi’s love property investment, that’s no secret. Last year over 313,000 Kiwi’s filed tax returns that declared rental income from property investment across residential, commercial and rural properties….
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