04 939 1110

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INVESTMENT PROPERTY

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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