Rental Property
Your trusted partner for comprehensive financial solutions and strategic business growth
We assist property owners with accurate rental income reporting, tax compliance, and strategic advice to maximise returns while meeting Inland Revenue requirements.
Collecting and Reviewing Information
The accountant gathers all relevant documents:
- Annual rental statements
- Bank statements showing rent received
- Mortgage interest statements
- Rates invoices
- Insurance premiums
- Body corporate levies
- Repairs and maintenance invoices
- Accounting records
May include statements from Barfoot & Thompson or Ray White.
Preparing Rental Income Schedule
Income
- Rent received
- Bond retention
- Insurance reimbursements
- Other income
Expenses
- Mortgage interest
- Council rates
- Insurance
- Management fees
- Repairs
- Body corporate
- Accounting fees
- Advertising
- Legal expenses
Interest Deductibility Rules
Assess eligibility, exemptions, and correct interest claimable as per Inland Revenue rules.
Repairs vs Capital Improvements
Repairs
- Broken window
- Carpet fixes
- Plumbing repairs
Capital Improvements
- Kitchen renovation
- Deck building
- Roof replacement
Ring-Fencing Loss Rules
- Loss carried forward
- Future profit offset
Bright-Line Test Review
- Check if sale is taxable
- Apply exemptions
Preparing Tax Returns
- IR3, IR4, IR6
- Trust returns
Tax Planning Advice
- Ownership structure
- Trust/company transfer
- Tax strategies
Filing With Inland Revenue
Filing returns, advising tax payable/refund, and updating provisional tax.