I have a residential rental property, can the loan repayment be offset against rental income?

You can only deduct the interest on the loan from the rental income, not the principal.

Do I need to calculate and pay GST when I sell my primary family home?

No, you don't. Since you are not yet registered for GST, you do not need to pay the GST part. However, you need to understand that depending on your situation, capital gains tax may be involved.

I bought an owner-occupied home in 2023, do I need to pay taxes on the surplus from selling it now?

The sale and purchase of owner-occupied homes is exempt from taxation. If it is the first owner-occupied home, then there is no problem, but if it is not, there is a possibility that it will be taxed if there are multiple purchases and purchases of the owner-occupied home.

Do family trusts have to file taxes every year? There is only real estate in the trust.

If your family trust only has property for self-occupation, you can apply to the Inland Revenue Department to cancel the annual tax return. But if you have a rental property, you'll need to file your taxes every year. Although you do not need to file a tax return if you only have your own house under the trust, it is still recommended that you complete the financial report, because the financial report can reflect the details of the assets under the trust, which can also reflect the role of the trust in protecting assets.

What entity is better to pay taxes on buying and selling investment properties?

If the sale of a residential investment property is subject to tax, it is taxed in the name of an individual, which is 28% for companies and 33% for trusts. What entity is better to put it in depends on your own planning. If only from a tax point of view, the difference is not much, because companies and trusts can also distribute profits to individuals and then pay taxes in the name of the individual.

If two people buy a house together and one of them is a first-time buyer, can I use the kiwiSaver first home purchase grant?

If one of the two people qualifies as a first-time buyer, they will be able to use their first-time home purchase grant and will not be affected by the other. The kiwiSaver First Home Grant requires the applicant to have no real estate in his or her name, the purchased property for self-occupation, and the kiwiSaver has been paid for at least three years.

Do I need to follow the bright line rule when selling a self-owned home in the name of a family trust?

Even the sale of owner-occupied housing under the name of the trust can be exempted, and there is no need to follow the bright-line rule, but it also depends on the historical record of owner-occupied housing sales, if it is the first one, then no problem. However, if you buy and sell your own house frequently, you will be taxed.