web look issue82

Current to September 16th, 2014 / look / 11 / look / Current to September 16th, 2014

Number 1 for

Greater Ponsonby property

Household delivered to: Newton, Eden Terrace, Kingsland, Arch Hill, West Lynn, Western Springs, Morningside, part of Mt Eden, Point Chevalier, Westmere, Herne Bay, Cox’s Bay, Saint Marys Bay, Ponsonby, and Freemans Bay;

also available outside most local real estate offices and selected supermarkets.

Grey is the new blackNORTH APARTMENTS Proudly marketed by Daryl Pope, Barfoot & Thompson see page 7 for details

Central Auckland | Issue 82 | Current to 16th September 2014

2 / look / Current to September 16th, 2014 Current to September 16th, 2014 / look / 2

Serves 4 Cooking Time 20 minutesThis delicious pasta is an easy go-to for mid-week eating. You could also include this as a side dish when entertaining friends and family by serving with grilled chicken breasts or baked salmon. Orecchiette (pronounced in the traditional Italian manner as aw-rehk-KYET-tay) is a simple pasta originally from the Puglia region of southern Italy. The name comes from the Italian words orecchio (ear) + etto (small) and was given this name for it’s unique ear shape. You can of course make your own orecchiette, but for the purposes of saving time we’ve used a 500g pack of La Molisana Orecchiette.

Ingredients:1x 500g bag of La Molisana Orecchiette

2 Tbsp pine nuts (we used Pinoli NZ Pine Nuts)

1/2 cup dried sultanas or raisins

1 small brown onion (roughly chopped into small pieces)

4 cloves of NZ garlic (crushed)

200g Basil Pesto (we used Genoese Basil Pesto)

Juice of 1x large lemon

1 cup frozen peas

150g grated Grana Padano or Parmigiano-Reggiano cheese (you could use any good quality parmesan)

100g feta cheese (cubed)

130g baby spinach leaves (around one bag)

1 Tbsp extra-virgin olive oil

Salt and pepper to taste

Method:1. Bring a large pot of well-salted water to the

boil. Add the pasta and stir occasionally to avoid the pasta sticking. Continue cooking for around 12 minutes

2. Toast the pine nuts in a dry pan until lightly golden. Remove and keep aside.

3. Heat the olive oil, then add the onion and garlic and sauté them on a medium heat until the onion is translucent.

4. Next add the pesto, sultanas, frozen peas and half of the lemon juice, then reduce to a low heat.

5. Wash the spinach and tear into small pieces by hand.

6. When the pasta is al dente (cooked until firm but not hard), drain and quickly return to pot in order to retain the heat.

7. Pour the pesto mixture over the hot pasta and combine.

8. Finally, add the pine nuts, feta, parmesan and spinach leaves and toss thoroughly.

Serve warm with an extra squeeze of lemon juice and freshly ground salt and pepper to taste.

Enjoy Dylan.

Pesto, Spinach and Sultana Orecchiette PastaRecipe by Dylan Yelavich (Marketing Manager - Farro Fresh)

Contact us on 948 8976 or 021 646 768, [email protected]

Did you know that people buy houses within 10 kms of where they currently live?

It’s true, so get your agent to list your house in Look.

More households, More buyers, More value

contributorsMark WithersStephen TsangCarole Pedder Nick AshfordRichard MatsonGail VietriSue Tierney

contactsPublisherLisa [email protected] 646 768

lookmediaAdvertising [email protected] Look Media NZ Ltd PO Box 1634 Shortland Street Auckland 1140 p 09 948 8976

LOOK is published by Look Media

While we have made every effort to present accurate and reliable information we do not endorse, approve, or certify such information, nor do we guarantee the accuracy or completeness of such information. Opinions expressed are not necessarily those of the publisher or its advertisers. No content within this publication can be used, copied, modified or redistributed without the express permission of the publisher. If you believe any of the information contained in this publication is incorrect please write to the [email protected]

Current to September 2nd, 2014 / look / 11 / look / Current to September 2nd, 2014

Number 1 for

Greater Ponsonby property

Household delivered to: Newton, Eden Terrace, Kingsland, Arch Hill, West Lynn, Western Springs, Morningside, part of Mt Eden, Point Chevalier, Westmere, Herne Bay, Cox’s Bay, Saint Marys Bay, Ponsonby, and Freemans Bay;

also available outside most local real estate offices and selected supermarkets.

Come home to comfort...Proudly Marketed by the Professionals see page 6 for details

Central Auckland | Issue 81 | Current to 2nd September 2014

insidelook

Find us on Facebook Look Media NZ

7 grey is the new black...


There is trouble on the horizon for insolvent LTC companies wishing to liquidate.

The issue unfolds like this.

LTC’s that are used for property investment are often setup with nominal share capital, perhaps a hundred one dollar shares. Their shareholders then lend them money and create credit balances in shareholder loan accounts (also known as shareholder current accounts) that fund the trading losses that debt funded investment properties typically make.

Over time, the shareholders hope that the companies’ properties will appreciate faster than the trading losses are mounting. Where properties can be sold for healthy profits all is well because funds are then available to repay the loans from the shareholders.

But what happens when assets are sold and insufficient funds remain to repay the shareholder loans?

This is when the fun starts.

The Income Tax Act contains financial arrangement rules that treat the remission of

debt as income when loans are forgiven or written off.

The shareholder current accounts are considered to be debts owed by the company.

These rules trigger for LTC’s when they are placed into liquidation unable to repay their shareholders or even when they elect to leave the LTC regime.

The situation then is that the unpaid shareholder loans are remitted and are taken up as taxable income in the LTC.

Now you might be thinking that things surely end there if the companies are being liquidated. Wouldn’t the tax just die with the company ?

Unfortunately not, a feature of the LTC regime is that any income of the LTC is flowed through to the shareholders so the tax bill rests with them personally.

This sets up the ridiculous situation where

there is a tax liability for an individual who has done nothing more than fund losses in an LTC that was never able to repay him.

The tale doesn’t end there though.

One potential solution to this conundrum is for the shareholder to capitalise his shareholders advance account and in so doing

convert his loan balance into more equity. This has been an acceptable mechanism to deal with the problem historically.

But hello, IRD have recently come out and stated that they believe the act of capitalising an advance account amounts to tax avoidance when it avoids remission income being triggered. They argue this on the basis that the transaction isn’t commercial when the conversion of debt to equity isn’t supported by net assets in the company and could therefore only be motivated by tax avoidance.

This approach seems completely nutty when you reflect on the reality that all the

shareholder has done is fund the company’s losses.

The Inland Revenue Department are currently taking submissions on this issue and debate is raging about whether this can really be considered tax avoidance. Watch this space for an outcome.

Some advisors are now recommending that right from the outset it may be safer for property LTC’s to incorporate with solid amounts of share capital rather than the alternative of taking on debt owed to the shareholders as this is more likely to avoid the company ever becoming insolvent and finding itself with this problem. This approach though does reduce the flexibility that exists around options to refinance current account balances that shareholders often enjoy.

Wrought with this problem, elevated tax compliance, loss limitation rules and basis calculations all features of the LTC regime, those with choices could certainly be forgiven for looking favourable at the traditional partnership model as a structuring entity.

There is a lot to be said for keeping things simple.

Trouble for Insolvent Look Through Companies

September is here, with long days and warm summer nights beckoning you from around the corner. This is the perfect time

for a property spring clean! Rental property is an investment, and maintenance is one of the most important things. Maintaining your property protects the value and prevents minor problems from escalating.

Outside jobs are easier to organise as don’t need to have the tenant around. Some jobs to get started with are to wash the exterior of the house, remove cobwebs, and clean the windows and the gutters. You might need to fix minor problems such as decks and weatherboards.

Think green as well. A tidy garden/drive makes your property more appealing to potential tenants and encourages them to keep these areas in good condition. Clean decks and concrete areas, mow lawns, trim hedges, weed gardens and remove any rubbish. It also pays to invest in quality fencing. Apart from fixing any broken bits, a fresh stain or water blast makes your fence look like new.

Inside your home, if tenanted, it is up to them to

clean; however, there are a few more things you should take care of. Condensation, for example, is one of the biggest factors accelerating damage to properties and causing health issues. Of course it’s up to your tenants to air their home, but there are a few things you can do. When choosing curtains for a rental, select thick, heavy

ones. Make sure that extractor fans and heating are in good condition. Perhaps some window locks so the windows can be kept open and secure during the day. Maintaining the heatpump (if applicable) is very important, too. Filters should be cleaned regularly and the outdoor unit should be kept free from bushes. If you notice mildew, you can wash it out of curtains and clean walls and ceilings with a damp cloth and household bleach (use a test patch first). If the paint/

wallpaper is damaged, try a fungicide solution.

There are many companies that can do maintenance from specialist companies that do it all, to house washing companies. If you don’t have time your property manager has great contacts and rates with reputable companies to get the job done right. Delegate so you don’t have to spend your time waiting for trades

people to show up.

Regular property inspections will keep on top of the inside issues. Sometimes it is simply educating your tenant on how to keep a property tidy. Proper tenant selection in the first instance will hopefully save you strife down the road.

Happy tenants are often the best ones. If they see you taking care of the property, they will most likely follow suit and take care of it too.

Spring clean will keep you in the green

Gail Vietri of Quinovic Ponsonby

Property investors and absentee owners trust Quinovic…We work 100% for our owners

Quinovic Ponsonby4 Blake Street, PonsonbyCall 09 360 8840 [email protected]

The best tenant selection Prompt rent payment (5 days) On-line Financial Management and Property Inspections An assigned Property Manager

Mark Withers of Withers Tsang

For the best tax advice please contact Mark Withers - [email protected]

24-26 Pollen St, Ponsonby | Ph 376 8860 | www.wt.co.nz


Central & city fringe specialistsContact Rachel Hawes: (09) 815 4018 | 021 485 778 | [email protected]

www.thelocals.co.nz

Residential rentals & property managementSpeak to a Local today.

R

This home has all the key features that buyers ask for, such as – bungalow style (built in the

1920’s), four bedrooms, all on a sunny 612m2 freehold section. The potential is here to add further value to the house and section.

The living, kitchen and dining area is open plan and would be great for entertaining, particularly with the essential indoor outdoor flow to the large north facing deck. The deck is partially covered as well to extend the 134m2 of total living space to the outdoors. The deck has a couple of wide steps leading to the next level and is good for kids. The fully fenced property is flat and sunny and the back garden is ripe for turning into a tropical oasis.

In addition to the four bedrooms there is a family bathroom plus a separate toilet. In the front of the house there is a sunroom that could be used as an office. A good feature too is all the storage and closet space not usually found in bungalows. Down the driveway there is a huge double garage, perfect for the DIY home handyman to create masterpieces in.

This home is situated in an excellent location, in a sought after neighbourhood,

so come take a look and make an offer, it’s that easy!

Light, Location, Lifestyle!61 Smale Street, Point Chevalier

Call for open home timesPrice by Negotiation

Lawrence von Sturmer027 227 9294846 8996

Derek von Sturmer 0275 337 357846 8996

www.sellrealty.co.nzProfessionals Real Estate 338 Pt Chevalier Road, Pt Chevalier 483 Richmond Road, Grey Lynn Lochores Real Estate Ltd MREINZ Licensed REAA 2008

4 1 2

Close to town, surrounded by parks and with expansive views, for those who live in this high-growth

area, everything seems just five minutes away. Fashion, dining, culture, sport, entertainment or simply relaxing at your local café.

At North Apartments on the corner of Great North Road and Turakina Street the architect has paid particular attention to the nature of the site and its spectacular outlook crafting concrete, steel and glass into a classic contemporary form. From the interior - nothing but view. From the exterior - asymmetric blocks contained within a strong geometric form.

When you choose to spend quality time at home your environment should reflect money well spent. The finishing, layout and attention to detail at North

is designed to meet your expectations. Few apartments are the same, however all share high ceilings, double glazing and appliances from the prestigious German manufacturer Miele. One bedroom to three bedroom, all that you need to add is your individuality.

There are up to five apartments per-level on levels one to five of North, with a selection of single, two bedroom and three bedroom designs. Each level shares a similar floor plan with a variety of apartment configurations designed to take advantage of aspect and location within the building.

These boutique apartments will certainly

be truly special. Tailored to suit the needs of an urban lifestyle with premium fittings, designer kitchen and bathroom and spacious outdoor living options.

Kitchens and bathrooms demand seamless integration of form and function. To achieve both, Miele appliances - selected for optimum performance and enduring quality, are matched with fitted kitchens by world-renowned manufacturer Poggenpohl. First-hand experience of these key components is essential to appreciate their quality.

We encourage you to visit our display on the corner of Great North Rd and Turakina Street where you will be able to contemplate and consider the details of this amazing development or visit our website at www.northapartments.co.nz

Grey is the new black

Call Darryl Pope 021 932 211Visit our showroom on the corner of Great North Rd and Turakina St.

Open daily from 1 to 2.30pm and 5 to 6pm Wednesdays.

Please view our website www.northapartments.co.nz


OPEN HOME

3 2 1 4 1

Mt Albert 58 Woodward Rd

For Sale: Price: $949,000

View: Sat & Sun 2:30pm-3pmwww.barfoot.co.nz/526531

James Williams

M 027 405 8582

E [email protected]

Grey Lynn 09 360 2323

Quick Sale Needed! Price $949,000After 23 years these vendors are on the move. This is your chance to secure a fantastic

property in Mt Albert.**THE TICK LIST**-612m2 of freehold land

-Sunny kitchen/dining/living area flows onto entertainment deck and down to garden.-MAGS and Gladstone School zoned

-Close to the train station and bus routes.

2 1 1 1

Kingsland 2/27 Don Croot St

For Sale: $429,000

View: Sat/Sun 12.30-1pmwww.barfoot.co.nz/527688

Susan Murdock

M 027 474 3374 A/H 09 624 1525

E [email protected]

Grey Lynn 09 360 2323

“Perfect Starter, Lock & Leave or Investment”An affordable Inner City dwelling - extremely tidy contemporary style 1970’s block, well sited

to enjoy the sun. This excellent unit has been well maintained & enjoyed by the current owner of over ten years & offers modern

decor, open plan living & two bedrooms. Superb location - with Kingsland, Grey Lynn shops & cafes nearby as well as City transport,

Western Springs & Fowlds Parks.

3 1 1 2

Grey Lynn Parks & Recreation = Family Bliss!

78 Williamson Ave If you’ve been searching for that perfect first family home, then look no further as this property has it all. Beautifully presented, 3 bedrooms (with storage), a modern bathroom, open plan living area and off street parking mean this home will suit a variety of families. The back garden is secure from the road and flows seamlessly from the kitchen and dining room, lending itself to long summer evenings and BBQ’s with friends. The location speaks for itself with the park across the road and Ponsonby and Grey Lynn shops a short walk away.

What’s left to do? Bring the kids and choose a room - this won’t last long. Our vendors have bought and want this sold!

For Sale: By Negotiation

View: Sat / Sun 12 - 12.30pm

(or by appointment)www.barfoot.co.nz/526983

Matt O’RourkeM 021 375 909

E [email protected]

Grey Lynn 09 360 2323

Ryan HardingM 021 621 580

E [email protected]

Video @ www.mattandryan.co.nz

3 1 1 2

NEW LISTING

Grey Lynn Parks & Recreation



Auction: 1:30pm 27th August 2014

34 Shortland St, City (unless sold prior)

View: Sat/Sun 12-12.30pm (or by

appointment)www.barfoot.co.nz/526983


E [email protected]

Grey Lynn 09 360 2323


E [email protected]



Grey Lynn Branchwww.barfoot.co.nz

[email protected] M: 027 499 0855 P 09 360 2323

Repeka Lelaulu

Repeka Lelaulu23 years experience

23 years of great results!#1 salesperson Grey Lynn

2010-11 and 2013-14

OPEN HOME

3 2 1 4 1




James Williams

M 027 405 8582

E [email protected]

Grey Lynn 09 360 2323





2 1 1 1


For Sale: $429,000


Susan Murdock

M 027 474 3374 A/H 09 624 1525

E [email protected]

Grey Lynn 09 360 2323





3 1 1 2








E [email protected]

Grey Lynn 09 360 2323


E [email protected]

Video @ www.mattandryan.co.nz3 1 1 2

NEW LISTING

Grey Lynn Parks & Recreation



Auction: 1:30pm 27th August 2014

34 Shortland St, City (unless sold prior)

View: Sat/Sun 12-12.30pm (or by

appointment)www.barfoot.co.nz/526983


E [email protected]

Grey Lynn 09 360 2323


E [email protected]



Shaded area shows stage two of the development

Capturing the best of Grey Lynn, the just released ‘North Apartments’ will truly set the standard for apartment living within this vibrant city fringe suburb.

The commitment to quality is obvious and the location sitting high on the Grey Lynn ridge is unbeatable. With just 22 freehold apartments available this boutique development is set to become an iconic building.

Visit our showroom on the corner of Great North Rd and Turakina St. Open daily 1-2:30pm and 5-6pm Wednesdays.

Apartments starting from $619,000Completion expected late 2015

Darryl Pope AREINZ Ph: 021 932 211 [email protected]

Grey is the new black

OPEN HOME

3 2 1 4 1




James Williams

M 027 405 8582

E [email protected]

Grey Lynn 09 360 2323





2 1 1 1


For Sale: $429,000


Susan Murdock

M 027 474 3374 A/H 09 624 1525

E [email protected]

Grey Lynn 09 360 2323





3 1 1 2








E [email protected]

Grey Lynn 09 360 2323


E [email protected]



So do we! Call us todayWant to sell your home?

August sales of $6.8mSOLD SOLD SOLD SOLD

SOLD SOLD SOLD SOLD

SOLD SOLD SOLD SOLD

Trevor & JacintaFresh Approach Strong Negotiators

Jacinta KerriganResidential Sales

021 262 [email protected]

Trevor EdwardsResidential Sales

021 660 [email protected]

Ponsonby Branch 09 376 3039 F 09 378 1854 184 Ponsonby Road, Ponsonby


Trade Me #767232010 Phone 021 948 430

Trade Me #746906100 Phone 021 948 430

Real Value in Popular Westmere• High ceilings give quirky character & sense of space.• Light & airy - 3 decks to choose from.• Two genuine double bedrooms.• Spacious new bathroom.• Large tandem garage• As new presentation inside & out.• Bright white kitchen with new oven & hobs.

$675,000 Neg - Selling NowOpen to View 1pm - 2pm Sat & Su n 2/ 19 Garnet Rd, WestmereMake an Offer! Keen Vendor wants Action!!!

Live and/or Work The Choice Is Yours -( Zoned Business 1 )• Single Level apartment just one flight of stairs above the footpath.• Two off- street parking spaces.• Wide Views• Two Double Bedrooms• Su n ny NW position• Small Complex• Lovely Presentation• Low Maintenance Construction

$654,000 NegOpen to View 1pm - 2pm Sat. & Su n 19B Garnet Rd, WestmereMake an Offer! Keen Vendor wants Action!!!


Kingsland 4/78 School Road

This is SO much more than your average brick and tile unit and you’re going to love discovering all the added extras.

With an elevated north westerly aspect you are basking in sunshine all day and the versatile floor area presents open

plan living/dining, two bedrooms, a gorgeous conservatory extension and modernised kitchen and bathroom. This

tucked away setting is surprisingly private and the fabulous garden and deck provide the perfect spot to soak up the

afternoon sun.

The single garage and basement storage offer plenty more scope and you have cafes, restaurants and excellent

transport options all on your doorstep. This is a superb chance to secure your first home or first investment in a sought

after city fringe location. Check it out pronto!

2 A 1 F 1 I 1 K

By NegotiationView at advertised open home times

www.thelocals.co.nz/KGL21747

Tim Hawes

021 482 601 09 815 4016

[email protected]

Ruth Hawes

021 482 797 09 815 4012

[email protected]

LICENSED (REAA 2008)

By NegotiationView at advertised open home times

thelocals.co.nz/KGL21747

Tim Hawes

021 482 601 09 815 4016

[email protected]

Ruth Hawes

021 482 797 09 815 4012

[email protected]


One Tree Hill 1/10 Clarke Road

This could be your last chance to secure a wonderful One Tree Hill opportunity! Our vendors are going to Plan B if this

lovely home is not sold SOON. Elevated and ever so elegant, the charms of this stunning character bungalow are hard

to resist. Renovated with flair and careful attention to detail the property is immaculately presented from top to toe.

The attractive entrance foyer welcomes you in and the three bedrooms flow off an elegant hall. Open plan living and

dining is sunny and light offering excellent spaces for entertaining and great flow to the private and perfectly sized

gardens. The double enclosed carport at the front provides shelter for the cars and space for a work bench or storage.

Put it at the top of your ’must-see’ list for the weekend as time is running out!

3 A 1 D 1 F 2 J

For Sale$899,000

View at advertised open home times

www.thelocals.co.nz/KGL21760

Ruth Hawes

021 482 797 09 815 4012

[email protected]

Tim Hawes

021 482 601 09 815 4016

[email protected]


For Sale$899,000

View at advertised open home times

thelocals.co.nz/KGL21760

Ruth Hawes

021 482 797 09 815 4012

[email protected]

Tim Hawes

021 482 601 09 815 4016

[email protected]



Custom Residential Ltd - Licensed REAA 2008

Phone 09 360 4860 Web customresidential.co.nz Office Cnr Great North Road and Bond Streets, Grey Lynn

Keith and Sandy Dowdle021 877 905 | 021 877 [email protected]

AUCTION In Rooms Sunday 14th September at 12 noon at Custom Residential Office (unless sold prior)

VIEW Sat & Sun 12 - 12.30 pmWEB www.customresidential.co.nz/CR5453

PONSONBY PRACTICALITYAt last! – A family home in Ponsonby that is based on practical solutions to your family living requirements.

This iconic state-house style home has been recently enhanced to provide four bedrooms, two bathrooms (including ensuite) and two large living areas. The driveway provides ample off street parking. A large north-facing deck spans the back of the house, accessed off the living.

The house is perfectly oriented for all day sun, with sweeping views across green playing fields to the Herne Bay ridge. A playground for the kiddies is just over the back fence. Bayfield Primary and Ponsonby Intermediate are your in-zone schooling options.

It has it all – position, practicality and Ponsonby!

PONSONBY 26 Moira Street

NEW LISTING

4 2 1 513m²2

Finds buyers others can’tREAC H


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