News

Deductions you can claim on an investment property!

By Liam O'Boyle

Deductions you can claim on an Investment Property

  • Rates and insurance
    • Interest paid on money borrowed to finance your property
    • Agents fees and commission relating to the rental of the property
    • Repairs and maintenance (except if they substantially improve the property)
    • Motor vehicle and travel expenses
    • Legal fees for arranging the mortgage or finance to buy the property
    • Mortgage repayment insurance
    • Accounting fees for the preparation of accounts

From the 2010 Income year and beyond

  • Legal fees for buying and selling a property can be deducted. This is provided your total legal expenses for the income year, including the fees associated with buying and selling a property, are equal to or less than $10,000. 
  • Before the 2010 income year legal fees for buying and selling a property are not deductible

Source http://www.ird.govt.nz/property/property-investment/deductions-you-can-claim-landing/

Up to Date

Latest News

  • How to Host the Perfect Kiwi Barbecue

    In New Zealand, summer heralds the start of the great Kiwi barbie (BBQ) season. It’s a time for casual outdoor dining with family and friends and it brings a sense of nostalgia to most Kiwis that have grown up with the tradition. Whether it’s at home in the backyard, at … Read more

    Read Full Post

  • Moving House? Read Our Top Tips For Smooth Moves

    If you’ve ever moved to a new house, and chances are very good that you have, you’ll know that it can be a stressful time. Here, we give you some tips to help ease that stress and allow you to move into your new home knowing that you’ve done everything … Read more

    Read Full Post