explanations Archives

COMMON QUESTIONS ABOUT YOUR FINANCIAL STATEMENTS

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

Investor studying financial statements with questions about income, expenses, property performance, and net worth, illustrating common financial statement questions for rental property owners.

COMMON QUESTIONS ABOUT YOUR FINANCIAL STATEMENTS. Questions about your financial statements? Here are the answers to some common ones

HOW IS FOREIGN-SOURCED INCOME TREATED IN MALAYSIA?

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

Woman working at a desk overlooking a city skyline, reviewing property documents and a tablet showing a New Zealand villa, with a thought bubble reading "Rental Yield? Dunedin, NZ" — representing a Malaysia-based investor considering an NZ rental property.

How is foreign-sourced income treated in Malaysia? This is a question worth revisiting properly. Malaysia’s approach changed significantly in 2022 — the old blanket exemption many people still assume applies isn’t quite how the system works anymore. This article – although dated 2023 – has been rewritten with the latest updates as of 2026. 30-Second…

NZ FIRE SERVICE LEVY AND YOUR LTC

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

The NZ Fire and Emergency levy changed substantially from 1 July 2026. Find out how it's collected, and when the liability to pay falls on your company directly.

NZ FIRE SERVICE LEVY AND YOUR LTC… you might receive a letter from the New Zealand Fire Service asking you to make a Statutory Declaration.

COMPANIES OFFICE RETURN NZ? NZCO?

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

Illustration of company records and regulatory documents used when preparing a New Zealand company annual return with the Companies Office.

Companies Office return NZ? NZCO? What’s that? These are two of the most common questions we get from new company directors. It’s not a tax return, and confusing the two can lead to a company being struck off the register. 30-Second Read NZCO is short for the New Zealand Companies Office, part of MBIE (the…

ARE MY PERSONAL INSURANCE PREMIUMS TAX-DEDUCTIBLE?

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

Comic illustration of a worried New Zealand man holding a note asking "Personal Insurance? Tax Deductible?". Features a map of NZ, a pie chart, and an angry kiwi bird in a top hat representing the Inland Revenue Department.

Are my personal insurance premiums tax-deductible? It’s a question we get asked constantly. The honest answer depends entirely on what kind of insurance you’re talking about. Life insurance, trauma cover, income protection, and employer-provided policies are all treated quite differently under current tax law. This guide walks through each type clearly. It also covers the…

INVOICES

By Garreth Collard, Senior Property Accountant | April 27, 2021

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;

LTCS VS QCS AND LAQCS

By Garreth Collard, Senior Property Accountant | June 7, 2018

a man in NZ is thinking about which structure to use for his rental property, perhaps an LTC

LTCS VS QCS AND LAQCS. Unlike the LAQC rules, shareholders of an LTC are liable for tax upon the company’s profit, as well as being able to offset the company’s losses against their other income.

IRD REQUEST FOR MORE INFORMATION

By Garreth Collard, Senior Property Accountant | January 1, 2017

IRD request for more information: no one wants to receive one of those letters. But what do they look like and what do they mean? Here are two useful pages to get a clear picture on IRD Requests for More Information. WHEN THE IRD WANTS MORE INFO! This article explains that the Inland Revenue Department…