We can provide you with affordable investment property 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