New Zealand’s premier accounting professionals Tauranga-based Tutbury & Associates Limited are excited to announce the latest in their seminar series, with this one being all about ring fencing. And the best part about it, is that it is absolutely free to attend!
Tutbury and Associates are a group professional young accountants, who specialize in helping burgeoning businesses, and are dedicated to providing quality service and advice when needed.
“This free 1-hour ring fencing seminar will deliver key insights from industry professionals about all the latest updates to ring fencing laws and how to navigate through theses changes,” comments Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited.
This seminar is being held at the centrally located Raft Café on 65 Chapel Street, Tauranga on the Thursday 12th March 2020 at 4PM.
Simply put, ring fencing is a system that divides someone’s financial assets, i.e creating a “fence” around a section of their income.
Before April 2019, property investors could deduct tax (for example, salary/wages or business income) from their overall income when they made a loss on their property. “After April 1st 2019, the ring-fencing of losses law makes this impossible. Instead, deductions will only reduce residential property income,” advises Kelly.
The residential property deductions you claim for the year cannot surpass the total of income you earn from the property for the year. “Any surplus deductions must be carried forward from year to
year until they can be used. You cannot use excess deductions from your residential property to reduce your other income,” adds Kelly.
But what all these changes mean for you? This seminar is here to answer all those questions and provide any guidance or assistance you may need.
To register your interest in this seminar, contact the friendly experts at Tutbury & Associates today!
About Tutbury & Associates Limited:
Tutbury & Associates Limited has worked hard to build their reputation of excellent customer service by working interactively with their clients and making sure that their clients get value for money. They are ideal for ideal for trades people, or anyone who wants to grow their business.
Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Address: 23 Myres Street Tauranga