Current Category: Property Investment Basics
IRD: Deductions you can and can't claim
What you can claim
The following expenses can be deducted from your rental income:
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
from the 2010 income year and beyond legal fees for buying and selling a property c...
posted in: Inland Revenue Department , Property Investment Basics, Accounting, Taxation
IRD: Mistaking property dealing for property investment
Property investor is a collective term for property speculators, dealers and investors. However, they are each treated very differently under tax law.
Click on the following links to read more about
Factors to consider when determining your status
What is an investor, a speculator and a dealer?
If you are not clear on your intentions for buying a property
How long do I need to hold the property to make it a capital gain?
How many properties can I sell before it is considered taxable? ...
posted in: Investor, Speculator or Dealer?, Property Dealing vs Property Investing , Inland Revenue Department , Governmental & Regulatory, Tax status , Property Investment Basics, Taxation
5 common mistakes people make buying apartments
ICONiCITY, specialists in Auckland CBD apartments, has kindly shared with APIA the five common mistakes people make when buying apartments.
It is a quick and insightful read for all discerning property investors. Click on the link below to download the E-book!
The 5 common mistakes people make buying apartments
posted in: Investment Advice, Apartments, Property Investment Basics
Do not buy coffee if you want a house
A leading property investor has questioned why people on above-average wages cannot afford to buy a home after a report predicted dramatically falling home-ownership rates. Property Investors Federation vice-president Andrew King said people on $70,000 a year had to look at their other spending – on things like coffee and cars – if they thought they could not afford a house. “It might not be the house that you want to live in long-term, but you could buy a $350,000 house in Te Atatu, Glenfiel...
posted in: Finance, Interest Rates, Property Investment Basics
Real Estate Agents Authority - Real estate consumers information
The aim of the new Real Estate Agents Act 2008, which took full effect on 17 November 2009, is to promote and protect the interests of consumers and to promote public confidence in the real estate industry.
The Real Estate Agents Act 2008 introduces changes that will benefit those who are about to buy or sell a property. These benefits are:
the establishment of an independent oversight body for the real estate industry - the Real Estate Agents Authority;
the introduction of an independent...
posted in: Real Estate Agents Authority, Governmental & Regulatory, Property Investment Basics
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