What's happening in the market right NOW
Read Here
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

  • High Demand for Rental Properties in Christchurch and Nationwide

    It was a turbulent year for New Zealand’s rental market in 2020, and December represented a strong finish according to Trade Me. What we’ve seen on the ground here at McPherson Property Management is that 2021 is off to a flyer with high demand for Christchurch rental properties. … Read more

    Read Full Post

  • REINZ Launches Guide to Property Management Course

    REINZ recently released the Beginner’s Guide to Property Management course, with the objective of giving new property managers the up-to-date knowledge required to succeed in the rapidly evolving industry. What does the course cover? The 15-hour online course has been written by property management experts and is made … Read more

    Read Full Post