Posts Tagged ‘investors’
GOVERNMENT RENTAL PROPERTY TAX CHANGES 2021
SUMMARY OF CHANGES Changes announced January 2021 by the government: Note that this law was very much “being made up as they go along” so at the time of announcement, lots of things were unknown, or not decided on. Subsequently, IRD have clarified most questions and rewritten some poorly-worded tax law. HOW DOES THIS AFFECT…
Read MoreNEW BUILD VS OLD VS LAND/BUILD
The builder probably said it’d be 6 months, but that didn’t include getting consent from Council. Then there were weather problems, and other problems, and so it has actually taken a year to build.
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 MoreGETTING STARTED IN INVESTMENT PROPERTY
Oftentimes, an LTC is the best way to go. However, there are other factors to consider: Are you single or with a partner? If you have a partner, are you both in the same tax brackets?
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 MoreIS NOW A GOOD TIME TO BUY A RENTAL PROPERTY?
Are you thinking about buying a rental property but not sure if now is the right time to dive in? There’s nothing like a worldwide pandemic to give you wobbly legs at the thought of making a big financial investment! It may seem like a precarious time to buy a rental property due to Covid-19 and political uncertainty around landlord requirements. However, there are other drivers which may indicate that it is a good time to enter the property market or expand your portfolio.&nbs […]
Read MoreRENTAL 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 MoreRING FENCING OF PROPERTY LOSSES
Ring fencing of property losses is here to stay. What will be the impact, and what strategies should you employ? How will it affect you? Will you still get a tax refund?
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