record-keeping Archives

INLAND REVENUE TAX AUDITS: WHY PROPERTY INVESTORS NEED BETTER RECORDS THAN EVER

By Garreth Collard, Senior Property Accountant | August 20, 2026

Inland Revenue tax audits are increasing as IRD invests more heavily in compliance activity, data analysis, automated tools, and targeted reviews of property transactions. For New Zealand property investors, landlords, developers, and people caught by the bright-line rules, this means Inland Revenue now has a much stronger ability to detect undeclared income, GST errors, and incorrect…

TAXABLE RENTAL INCOME IN NEW ZEALAND

By Garreth Collard, Senior Property Accountant | June 29, 2025

Taxable rental income in New Zealand …many New Zealanders understand that rent from an investment property is taxable. However, far fewer realise that the rules extend well beyond traditional rental properties. You might own a rental property with long-term tenants. Alternatively, you might rent out a room in your home,(opens in new tab) host short-term…

RENTAL PROPERTY: WHAT RECORDS DO YOU NEED TO KEEP?

By Garreth Collard, Senior Property Accountant | February 20, 2025

a NZ landlord with piles of receipts realises he needs to keep better records

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 […]

THE ULTIMATE GUIDE TO BUSINESS STRUCTURES AND RECORD-KEEPING

By Garreth Collard, Senior Property Accountant | December 31, 2024

The ultimate guide to business structures and record-keeping in New Zealand? Yes: you’ve come to the right place! Managing a business in New Zealand involves careful planning, choosing the right structure, and maintaining meticulous records. This guide explores the most common business structures in New Zealand and provides practical tips on record-keeping to ensure compliance…

COMPLIANCE REQUIREMENTS – LTCS AND COMPANIES

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

a couple ponder compliance requirements for their LTC (which owns rental property in New Zealand)

COMPLIANCE REQUIREMENTS – LTCS AND COMPANIES. What are the Compliance Requirements for your LTC (Look-Through-Company) or standard Company? First let’s talk about your obligations as a director.

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 […]