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No tax write-offs for investors
Tuesday 18th of March 2008
Capital losses are out. Nor can they make claims for bad debt on interest income they have already been paid, says IRD group tax counsel Graham Tubb.This applies to most mum and dad investors – those with total interest income of less than $100,000 a year. They are on a cash accounting basis.
"As a guide, if resident withholding tax has been deducted from interest payments, the inter...
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