Rental Property Accounting

Purchasing a rental property should be a rewarding and profitable experience. There are many ways to maximise your investment in a Rental Property to your advantage, and having an experienced rental property accountant is a must. Whether you are about to purchase an Investment Property or you are already an owner and are not benefiting from the full potential…

Here are 5 good reasons to talk to Accountancy+ Ltd

1. In whose name will the property be purchased?

  • Individual name
  • In partnership with another person
  • A Trust
  • A Company
  • An LTC or Look Through Company, where any losses can flow- on to the individual shareholders.

2. Do you understand the tax advantages and disadvantages with each of the above?

3. Can you borrow on a rental property and pay off some of your personal debt? Will the additional borrowing be tax deductible?

4. Is the property cash flow positive or negative? If negative, will you be eligible to receive your tax refund weekly, fortnightly or monthly?

5. Are you maximising your depreciation claim?

Rental Properties and Xero-Now you can get rid of that shoebox!

At last you can get rid of that shoebox, because we have a great solution using Xero accounting software, and it makes things really simple for you and us.

The whole process is stress free…. No more hunting for lost records or wondering what that cheque was all about.

Is cash flow a headache?-Would you like extra cash in the hand?

If on your behalf we apply for a “special tax code” you may be eligible to receive your estimated tax refund during the year, instead of waiting until after 31 March.

Here’s how it works. We prepare a budget for the next tax year. We show IRD what the loss is expected to be. From that information IRD issue a “special tax code” to your employer, reducing the amount of PAYE that has to be deducted from your pay. Of course the less PAYE deducted, the more money in your hand.

We’ve been doing rental property accounting for many years and know how to maximise your investment. Contact us today.