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How does bankruptcy affect IRD tax returns? I have
No. I have outstanding tax and GST returns that I won't be in a position to pay as well as a bank loan. It would cost thousands to get an accountant to file returns and then I wouldn't be able to pay then either. … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
New Zealand Accountant * I own forest, in the name of a GST
This question is for a New Zealand Accountant *I own forest, in the name of a GST registered company It's on 2 titles It has a tenant, atm, i.e. grazing , gardening, and use caravan for $130 pw I inte… read more
Chris The Lawyer
Chris The Lawyer
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Master's Degree
31,680 satisfied customers
I need some advise. Christchurch. Nothing yet but need
i need some advise JA: What state are you in? It matters because laws vary by location. Customer: christchurch JA: What steps have you taken so far? Customer: nothing yet but need advise before doing … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
If a limited liability company takes over a sole trader, I
If a limited liability company takes over a sole trader, I understand that an asset is created in the limited company balance sheet, but how does the sole trader report this takeover to IRD. … read more
Chris The Lawyer
Chris The Lawyer
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Master's Degree
31,680 satisfied customers
This is in respect of a marriage separation and their
This is in respect of a marriage separation and their property. The home was jointly owned in a trust. The trust was gst registered. On separation the property was bought by another trust, also gst re… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
We have a & business which after 12 years of operation we
Hi...we have a B & B business which after 12 years of operation we wish to sell. However many potential purchasers stumble at the last hurdle because of anxiety over the IRD imposition of 15% GST on t… read more
Chris The Lawyer
Chris The Lawyer
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We are a couple who have had a mortgage application declined
we are a couple who have had a mortgage application declined as a previous company went into liquidation. That co has now even removed from the co office register. We have a mort with ASB but applied to Kiwibank where we gave our new business accounts. We have $120000 plus in these accounts. We were borrowing $120000 … read more
Chris The Lawyer
Chris The Lawyer
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Tax law New Zealand. We purchased a property through our business
Tax law New Zealand. We purchased a property through our business from a private owner and did not pay GST. We wish to wind up our business and transfer ownership of the property back to ourselves. Ou… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
Hi We had a cleaning business here in New Zealand. Started
Hi We had a cleaning business here in New Zealand. Started the Business in year 2008 and my wife was a sole trader of the business. For the 1st tax year the tax return was ok and in the second year th… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
Hello can our home contents be taken or sold if we are bankrupt
Hello can our home contents be taken or sold if we are bankrupt or made insolvent. What happens if life insurance is cashed in to pay back family members for there financial help to keep business a fl… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
Is there a way to fight the amount of court reparation when
Is there a way to fight the amount of court reparation when your appeal against the sentence was turned down and the amount of the reparation it unrealistic and impossible to pay and you have no asset… read more
Chris The Lawyer
Chris The Lawyer
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31,680 satisfied customers
we are contracting our painting & decorating to a building
we are contracting our painting & decorating to a building company Penny Homes,In the past we have contracted directly to Fletchers...this is EQC work We work as D C & E D Alexander family Trust parte… read more
Chris The Lawyer
Chris The Lawyer
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Master's Degree
31,680 satisfied customers
Hi I have been talking with Our new Bank Manager and we disclosed
Hi I have been talking with Our new Bank Manager and we disclosed we are unsure to what repayments we can make and we may need go bankrupt aftr closing our company earlier this year, we are unsure. He… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
my partner and i (de facto ) split our property portfolio equally
my partner and i (de facto ) split our property portfolio equally on parting. several properties were in a partnership while one property was in a company. the company was set up purely for the purpos… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
Re property law We made a huge loss on the recent sale of
Re property law We made a huge loss on the recent sale of a property owned by a gst registered trust. Now there is a large gst bill that we can't pay, we are sill paying off an extra $10,000 overdraft… read more
Chris The Lawyer
Chris The Lawyer
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Master's Degree
31,680 satisfied customers
We have relinquished the lease of our Motel as of 20 July 2011.
We have relinquished the lease of our Motel as of 20 July 2011. The landlord only paid for the chattels on 22 Feb 2012 but there is an outstanding debt to Progframmed maintenance Services for the pain… read more
Chris The Lawyer
Chris The Lawyer
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Master's Degree
31,680 satisfied customers
I have inherited - along with two other siblings - the family
I have inherited - along with two other siblings - the family home and the block of land it was on. It was part of a larger farm and contains the house my parents lived in for almost 20 years and 10 h… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers
There is an outstanding amount of GST owing on a sale of a
There is an outstanding amount of GST owing on a sale of a property I owed with my ex husband. I paid my portion to IRD on sale of property, but my ex has not paid his amount. In my divorce agreement … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,680 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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