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.

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

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 (lawrie@cornish.co.nz) to discuss.