Market & Portfolio Update - January 2020
Market & Portfolio Update - January 2020
The first month of 2020 saw volatility return to global markets, first with the attack by the US on Iran, followed by the recent health scare of the coronavirus. While global markets predominantly ended where they started in local terms, a falling NZ dollar, increased the value of unhedged overseas assets for NZ investors.
Long term interest rates around the world were lower by a quarter percent as investors retreated to safer government bonds in anticipation of the potential negative impact to global growth by the coronavirus.
At the end of 2018 we set up the NZ Innovation Booster partnership with Victoria University’s research arm, VicLink. To date, the partnership has invested in four exciting companies and this month we added two more; cancer diagnostics company Ferronova and antimicrobial coatings business Inhibit. We are very excited to be investing in NZ ideas that have the potential to transform their discoveries into products or services that have a real benefit to society.
You’re Missing Out on Tax Savings If You Haven’t Had a Chattels Valuation Done
We’ve been recommending chattels valuations from Valuit for over 20 years, and it still amazes us how many property investors haven’t had one completed.
If you own a rental property and your current accountant hasn’t discussed chattels valuations and depreciation with Valuit, there’s a very good chance you’re paying thousands of dollars more tax than you need to over the life of the property.
12 Common issues and mistakes we regularly see
We review many financial statements prepared by other accountants. Below are some recurring issues we frequently identify, many of which are also areas the IRD commonly focuses on.