FAQS
INVOICES
check Balance Sheet balances vs actual bank account balances; check interest deductibility; record loan interest claims and check any current/term debt portions; check non-deductible items; check legal fees for deductibility;
Read MoreINFO FOR NEW INVESTORS
INFO FOR NEW INVESTORS. Common questions if you are new to property investment. So you’ve bought an investment property. Now what?
Read MoreHOW TO CALCULATE RENTAL YIELD
So, we just showed you how to work out the Gross Yield. How do you work out the Net Yield, that is, the Yield post- or including expenses?
Read MoreWHAT IS AUDIT SHIELD INSURANCE?
WHAT IS AUDIT SHIELD INSURANCE? It’s an insurance to pay your accounting and legal costs if IRD start asking questions
Read MoreAML/CFT
WHAT IS AML/CFT? The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on many entities
Read MoreWHY USE A PROPERTY ACCOUNTANT
he field of investment property accounting has become more and more complex as more and more laws have been passed in the last few years,
Read MoreCOURIER BAG REQUEST
RENTAL PROPERTY: WHAT RECORDS DO YOU NEED TO KEEP?
What records do you need to keep for your rental* property? Here is a general guide. Note that this list assumes you are using a property manager. All costs are for the 12 months preceding 31 March:RENTAL PROPERTY Copy of Sale & Purchase Agreement (if 1st year)Total Rent ReceivedInsurances, e.g. Landlord Protection, Mortgage Protection, HouseLegal feesProperty Management fees (if applicable)Rates – water and CouncilMaintenance, including any purchases e.g. heat-pumpRubbis […]
Read MoreWHAT BUSINESS EXPENSES ARE TAX-DEDUCTIBLE?
What business expenses can you deduct in your income tax return? It depends on your business structure, but includes things such as:ACC leviesaccounting feesbank chargescontractor costsdepreciation (wear and tear)entertainment (be careful!)home office expenseslease or rental costslegal feesmotor vehicle expenses e.g. WOF, registration, repairs, insurance, FBTpurchases (for business purposes e.g. stock, materials)travel e.g. fuel, parking, business travelstationery, printing and office costs […]
Read MoreCOVID-19 BUSINESS & TAX SUPPORT
If you are unable to pay this tax on time because of the effect of COVID-19 on your business, IRD expect that you will pay this tax as soon as practicable. In such cases our recommendation is that you contact IRD now to let them know you can’t pay the tax on time and negotiate a payment plan.
Read More