explanations Archives

HOW TO CALCULATE RENTAL YIELD: GROSS vs NET

By Garreth Collard, Senior Property Accountant | August 30, 2024

Couple reviewing rental yield calculations on a tablet at home, with a laptop, calculator and papers on the coffee table and a whiteboard behind them reading "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?

LTC RENTAL PROPERTY NZ: PROS, CONS AND ALTERNATIVES FOR PROPERTY INVESTORS

By Garreth Collard, Senior Property Accountant | August 7, 2024

Property investor comparing an LTC, partnership and other ownership structures for a New Zealand rental property while reviewing investment and tax planning options overlooking Auckland.

However, this legal vehicle does allow you to proportion losses (and income) according to the amount of shareholding that each shareholder has.

WHAT’S THE PROCESS FOR MY TAX RETURNS?

By Garreth Collard, Senior Property Accountant | June 7, 2024

Steps in EpsomTax.com’s tax return process, from completing the questionnaire to Inland Revenue assessment

Here are the main steps involved in your tax return preparation

WHAT IS AUDIT INSURANCE?

By Garreth Collard, Senior Property Accountant | December 31, 2023

A New Zealand property investor pauses to consider what an IRD audit letter could mean for their portfolio.

WHAT IS AUDIT SHIELD INSURANCE? It’s an insurance to pay your accounting and legal costs if IRD start asking questions

WHAT IS A SOLVENCY RESOLUTION?

By Garreth Collard, Senior Property Accountant | November 30, 2023

a NZ company owner is worried that his company is insolvent

WHAT IS A SOLVENCY RESOLUTION? A solvent company is one where the assets are more than the liabilities. An insolvent company is the opposite

WHAT IS FATCA? AND WHY IS MY BANK WRITING TO ME ABOUT IT?

By Garreth Collard, Senior Property Accountant | November 20, 2023

A landlord receives a letter from his bank informing him about FATCA requirements

FATCA NZ bank customers get letters about every year, and most people have no idea why. That’s especially true if they’ve never set foot in the United States. This guide explains what FATCA actually is, and why your bank is asking. It also covers a closely related rule that catches even more people out: CRS,…

UK PENSION TRANSFER TAX: HOW MUCH WILL YOU PAY?

By Garreth Collard, Senior Property Accountant | September 7, 2023

The process of moving QROPS funds from UK to NZ

CAN I CLAIM MY HOLIDAY AS A RENTAL EXPENSE?

By Garreth Collard, Senior Property Accountant | August 20, 2023

Person combining work and leisure during an overseas holiday, exploring whether travel, accommodation, and related expenses qualify as tax-deductible business expenses in New Zealand.

You have a rental property. Can you claim your holiday as an expense? If you spend time travelling as part of your business you can claim business travel as an expense. A good way to prove the business portion of your travel expenses is by keeping a diary of your travels.In addition to keeping invoices, receipts and tickets you should also keep details of:the date of the tripyour itinerarythe cost of car hire, and air, bus and taxi faresthe cost of accommodation, meals and incidentalsthe t […]

UNDERSTANDING FINANCIAL STATEMENTS

By Garreth Collard, Senior Property Accountant | July 30, 2023

It is a statement of what your business/company owns (assets) and owes (liabilities). Assets include things like bank accounts, inventory (stock) property, cars, computers, money owed to you (debtors) etc.

WHAT IS XERO.COM?

By Garreth Collard, Senior Property Accountant | July 20, 2023

Many have never heard of Xero and wonder what it is, what it does, how does it benefit you and is it safe? We attempt to answer