Investment Property
We can provide you with affordable accounting, whether you are new to property investment or have been in the industry for a while. We'll ensure you keep your tax bill as low as possible and maybe even get a tax refund.
Call us for your free 30 minute consultation. We'll take a quick look at your tax position after you have provided your accounts and we'll provide you an accounting fee quote and get on with the job.
Phone: 04 939 1110 or email (admin@cornish.co.nz) to discuss.
An example of expenditure that can be deducted but often overlooked:
- Accounting Fees & Consulting Fees
- Advertising - For Tenants
- Assets Under the value of $500 each purchased separately
- Bank Fees
- Bank Mortgage Interest (not mortgage principal)
- Business use of home
- Cleaning & Rubbish
- Depreciation
- Garden Maintenance
- Insurance
- Legal Fees - Up to threshold
- Power/Gas -can occur if you need to carry the cost between tenancies
- Property Management
- Rates
- Repairs & Maintenance
- Security
- Travel to inspect or new tenancy viewing
Issues to consider when investing in property:
- Bright line test
- Whether the expenditure is capital or revenue in nature
- Return on investment
- Use of mortgage broker
- Location
- Tenant credit check
- Building inspection
- Methamphetamine contamination
- LIM Report
- Neighbours
- Likelihood of any capital gain