News
Rules tightening around mortgagee sales
Friday 6th of November 2009
The changes are included in a discussion document released by Revenue Minister Peter Dunne yesterday.
At present, the Goods and Services Act tightly defines what is a mortgagee sale and allows the GST component to be recovered by the Inland Revenue Department (IRD). Investors who are in trouble are making arrangements which make it appear the mortgagor, not the mortgagee, is carrying ou...
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